see november 2014. we had same 21/50ema kissing each other, trying to make a dead cross, but see how whales reacted to it. they shot through the 21/50ema resistance, went all the way up to 460, 470dollar almost to 500 dollars. that is the weekly baseline that time. however, it failed to penetrate that but just dropped real lower from that time.
at that time daily, it went up the . a moonshot.
look at us now.
we also have a 21/50ema kissing now, trying to deadcross. our baseline is 7.8k at the moment in weekly.
we have few similar data that matches now circumstances.
1. back in november, it dropped made a candle
2.but it rebounded right back the week after
3.it didn't make a clear bull div , by making lower lows, but instead tried to make a hidden bull div , higher lows, but lower lows
in and indicators.
4. it had the same danger of being dead crosses, with low low , at similar numbers, same above
5.it also made bottoms at 270~300dollar range before the shoot up.
now, in daily we have same red , now, it is easier to go over that from 18~19th, or 28th, or 29th. 30th is decision,
so short may be in favor that time around.
SO if we follow the same path, and we go for weekly baseline, 100% same as past, 7800 can be the highest it can go!
BUT FOR NOW, this is just an information for you guys to check and observe. because, it is quite similar now, so we can study this, whether it happens or not. shorts are way too high again, and maybe a short squeeze to up levels and down can happen. even if it happens like this, after november 2014, it dropped and went to hell. so its just an IDEA, I do not believe this, but i am little aware of btc move now, especially for shorting, i do think we need to be careful. i still think we are extremely , but i do think
this kind of squeeze can happen in crypto world, where, sometimes charts and indicators are not important, what whales want is more important. so for now, shorting at 66, 67 zone, needs to be careful, so i will update more. for now, this '21/50ema cross'
event like the past, is just an idea, a happening that happened in the past, not that it would happen. now, this idea is little more inclined to 'unreal', but something to look out for.
so the chart i have been uploading.
so check green, purple, red lines. i think, btc is making a hidden bull divergence now, and i do think a shoot up to high levels can come until 19th.
so watch out for this.
trading plan remains the same.
target:i will update this, if lucky 63.5 area, but maybe just 6580. shorts are way too high again, i don't like this sentiment now.
what i feel now guys, is that btc is very bearish, i feel gloomy everyday, looking at these prices. the fact that it tries to defend 6100/6000, with such low volume, with these rising wedges, twice already(august), indicate that 6k support, if we panic sell below that we see more below. remember we had a v-shape bounce from 6000 at Feb? bounce from this level keeps weakening since, higher lows are made, so this btc trading range, from 6100~6800, seems very sad at the moment, i think we would not see sub 5.7k in coming week or two, but if we touch resistance at 6.8~7k, maybe we see sub 5.7 next month. so do not feel too positive(longterm yes), there are buyers at 6.2~6.3 level, but i think they buy because they know where the bounce ends.