theRaggy

Momentum Shifting for BTC

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Finally, the cross we have all been waiting for.
A bullish cross on the daily MACD for Bitcoin . This could mark the bottom and see us breaking this downward sloping channel to the up side?
First Target is the 52K area.

I hope so, BUT:
My Liquidation prices are still below the 40k mark as we could easily breakdown to this area:
  • Lux ECO indicating a move down below 40K mark in the next 16 hours (4 hourly chart).
  • Lux Momentum still showing downside pressure
  • BB bands are constricting on the 4 hour so a move in either direction is imminent.

My bias at the moment is to the down side, which sucks... But, I have orders ready at 40k to pick up some BTC on on a Xmas special.

In Summary:
  • Next 3 days: Bearish - Target 40 /41K
  • Next week Neutral - bias to downside - Target 40-45K
  • 4 weeks or more: Bullish!!!! - Target 68/70K
  • On-chain - Massively Bullish!
  • 1 min -> 1 day TV Technicals = Strong Sell
  • 1 Week TV Technicals = Sell
  • 1 Month TV Technicals = BUY!!!

Boom,
@theRaggy