DrDovetail

Neverending Bearflag Purgatory...Death Cross still very possible

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Neutral for now we've been in bearflag limbo for the past 15 4hour candles......looking at the day chart however it currently looks like the Death Cross(50SMA crossing under the 200SMA) is still very much capable of happenign and unless one of the 2 lines drastically change their trajectory we will be looking at a death cross come April 3rd. Omkar Godbole has a different perspective on the Death Cross and how it could potentially be a bear trap https://www.coindesk.com/why-bitcoins-de... Whatever happens its wise to always be prepared for the exact opposite outcome of which one you choose to pursue. Best of luck out there...and if anyone out there knows the record for most 4hrcandles in a single bearflag let me know.
Mar 28
Comment: Stop loss triggered...going short for now
if magic poop cannons head and shoulder is legitiamtely triggered the drop target for that is 51-5400 so 3500 isnt that much further of a dip really.
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I think there's a chance the greya scending trendline could still catch it. . .but also take the price target you're making very seriously as well.
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3.5k here we come! Vrooooooooommmmmmmmm! Save your money for the great deal to come!
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DrDovetail samiswilf
@samiswilf, still think 3.5k? Not impossible, but if so ti will be very temporary most likely...we almost need to fully correct on a massive scale if we have any hope of triggering the bullmarket this year by the second quarter.
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