Here is an updated chart on BTC. We have been dropping in price but I want to explain why I still believe we will see the price rise soon.
Looking at the chart above I have highlighted 5 buy points and 4 sell points. All of these entry and exits have been profitable! Right now we are seeing a similar reaction as we saw on 2/11. We see VWMA almost touch the other MA's on 2/13 but stayed above,and the golden cross showed to hold true and we rallied to almost 11.7k.
So far the only failed cross we have had has been very brief and was on 1/30. The price never made its way above the moving averages, and the RSI couldn't maintain above our signal line all showing bearish signs. We would have never bought this anyway without seeing the price above the moving averages to where the VWMA was in between the price and our other moving averages.
The only concerning indicator at the moment is the RSI, it is dropping rather low but we are still above 40. If we break 40 this could be a bad sign. Based off our crosses in the past the RSI has not done this.
So for now (based off the past history with these crosses and the success I have had trading this way with BTC) I am still bullish and expect to see a run up to 9500k soon.
Let's keep watching!
THANKS for reading! Like if you Like!
Happy Trading :)
Much Love
DustyPH
*all comments are welcome*
***This information is not a recommendation to buy or sell**
Looking at the chart above I have highlighted 5 buy points and 4 sell points. All of these entry and exits have been profitable! Right now we are seeing a similar reaction as we saw on 2/11. We see VWMA almost touch the other MA's on 2/13 but stayed above,and the golden cross showed to hold true and we rallied to almost 11.7k.
So far the only failed cross we have had has been very brief and was on 1/30. The price never made its way above the moving averages, and the RSI couldn't maintain above our signal line all showing bearish signs. We would have never bought this anyway without seeing the price above the moving averages to where the VWMA was in between the price and our other moving averages.
The only concerning indicator at the moment is the RSI, it is dropping rather low but we are still above 40. If we break 40 this could be a bad sign. Based off our crosses in the past the RSI has not done this.
So for now (based off the past history with these crosses and the success I have had trading this way with BTC) I am still bullish and expect to see a run up to 9500k soon.
Let's keep watching!
THANKS for reading! Like if you Like!
Happy Trading :)
Much Love
DustyPH
*all comments are welcome*
***This information is not a recommendation to buy or sell**
