so many still say we go to 5.2k, but i don't think so for now, and next week maybe. maybe from october, but not now. you see the blue conversion line? at 6350, we managed to close above that level now. that is small sign of bullishness, and we managed to go 6540, daily higher low, which, soared up the candle two days before. it managed to close at 63.8, which, is above the conversion line.
now, usually, people say, we are still , but i think this is a short term signal that we could go long. daily will try to golden cross, more consolidation can come next days, but we managed to make a bull divergence on daily, finally, with 6100 . weak still, yes, but btc is not risking to fall below monthly 20MA, which is 6100. also, considering the (septermber 30th), red clouds trending down on frames, next week
is real the golden time to make a bounce.
so easy pattern. this time, still so , but testing 20 and 50ma, baseline, 2day frame, can happen like last bounces.
it always did, whales know that is at least the bounce we can get. so, testing that level, next week, i believe can happen.
overall , 21/50 , deadcross, i believe confirmed, so we take profit at bounce, i think we should short this, at
divergence on daily, 2~3day frame. target, yes, could be 5.4k, or even lower. we must break above 7400/7500 to reverse this
bear market. if that happens, that will be so great, but for now, still mid/long term.
so 2014, 2015 we saw price try to stay above monthly 20ma, but it broke down that level, testing real lows. so sad, but can
obv in , maybe we need to touch support more below.
so, trading now, guys need to be cautious, but i do think you can hold longs until next week or so. we can decide to go short
1. open long
sell:64~65(short term), 66~68(hold for a week)
(i think in coming times btc would try 64.8~65, if that fails it could break down to baseline)
6480~6540(only for maybe today, or tomorrow)
sell:6350 or below
(this is dangerous yet, but maybe btc will , or triple top at 64~6500 level, come down to consolidate, i don't recommend shorts too much now, we need to see more wicks, setups)
we need to open short, wait until btc makes full capacity at up runs.