Again, keeping it simple. The Cross should happen in about 2-4 hours.
Based on the volume profile I expect an impulsive reaction. Probability for upwards movement when looking at the buy volume in the last candles.
- Support lines could be used for Stop-Losses, would exit my position - Resistance lines could be used to take some profits, would start at 9 k - RSI doesn`t convince me fully even it is bullish- it`s at a level where bounces/reverseals happen
I really think that experienced traders would know the higher probalities here (after MA Cross - > upward or downward?)
Feel free to discuss, tell me what you like or don`t like and share your own opinion.
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Imo we will see the cross within the next 2 candles. To coincide with my bullish sentiment i would like to see a candle body to close above the 8.7 level.
One thing i noticed; Even though buying outweighs sell volume it decreased to half in the last 4 hours amount. Could this be people holdin/pushing up the price to immediately short when the cross happens? Got to be cautios here.
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Another thing learned just now today: when there is little volume it does not take much to instantly pump market price that seemed definitely coordinated or like a whale play as it happened almost instantly. Why at this price level? - delayed MA Cross - reinforce FOMO Buyer - preparing for bigger dump
All of the above and more could be possible... Have not taken any profits yet, starting at 9k. If support at 8.8k holds, i am still bullish
is that the death cross that would be crossing over, MA 50 and 200? I sincerely dont expect an upward reaction, because this creates fear for people and they will start panic selling. if it does go up then i would be surprised.
Reborn94
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@AsmaHassan, indeed that would be the death cross and to be honest i base my assumption solely on the recent increase in buy volume and the strong 8.6 k support. We`ll see soon how it plays out
Reborn94
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@AsmaHassan Edit: ...base my assumption for upwards ...
@AsmaHassan, if we continue like this should happen within the next 2 candles, depending on their volume. If one candle can close above the 8.7 support, would be a good sign for bullish direction in my opinion. What do you think? Or do you thinkbig FOMO sell off is coming ?
Asma7assan
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@Reborn94, I honestly cashed into USDT ...I wont risk leaving my money in any alts/BTC...safe play..until for sure a direction is crystal clear then invest. I didnt want to keep a tight loss either (just incase it misses it). even if that means I missed the perfect entry, who cares, play it safe than sorry. god knows where this could leave us and how others will react to the death cross. so far there are volume...people may still buy. lets see.
Reborn94
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@AsmaHassan, nothing wrong with playing it safe. Personally I only take the trades I am confident in (lol) or where I see a good risk/reward ratio always combined with stop-losses.
well if you want crystal clear directions you should focus on btc sideways movement trades i guess. Other then that our BTC surprises us more then often ^-^
Reborn94
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@AsmaHassan Sorry that was my mistake, that is not a death cross. forgot that I changed the colors of MA: green 200, red 50