BTCUSD
is looking like its about to fall below the 50 week moving average, its been fighting it for the last week or so, but appears that the previous week was indecisive leading me to believe we are heading lower. Looking to accumulate in the range of $6250 and as low as $5800 (highlighted in light blue) in the short term here. This will provide more than enough liquidity to continue the bull run in 2020, BIG IF the bull gods continue to run this coin up to the moon. I do so believe that we are looking to head lower after a bounce from the light blue range with maybe a retest of the resistance we saw form at the bottom of that $7300 range.
A god tier short right now would be $8500 (top of that red box) if we go up that high before retesting that support grown from the cheese grinder in 2018 (light blue range). $7300ish is a no trade zone and below the red and above the blue is no man's land, as crazy as running through the machine chop which is bitmex. Expect few big winners until a clear break below 5800 or above 8500. Its a big range, but Its very choppy. No Clear winner, high leverage will get rekt.
Personally, with the drops we have seen since the 14K sell off, I believe we could be in this bear market much longer than previously believed. I hope you made money in 2019. No Closes on the weekly above $11,775 and this means we could still not see a bottoming out for a while. Will Update when needed. Hope I'm Wrong and we only go up, but hope never pays the bills.
$BDE
- Bitcoin Overdose