What's BTC doing?
It looks like it is either looking for more fuel to keep going up or going down to test bottom. We have stopped at the of the recent up move which is a healthy pullback, however if we go below 7k we might be looking to retest the bottom by landing on the green , if we hit this line again and bounce up that's an indication that BTC has found a bottom, if the bounce is high, it maybe time to jump in with a little more money. What we know for sure is that if we melt below my green line we are going down a lot more.
The only scenario we need to worry about is if we melt below the 200MA on the WEEKLY time-frame, which is below my "Mother of all buy zones." Other than that Crypto is alive and well.
Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits.
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NOW, THE LEGEND;
Support trend-lines are green
Resistance trend-lines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white
THE TREND: Going Down
THE OUTLOOK: Begining to see the end of the downtrend a rally may be coming soon.
You are so far right in my opinion beacuse you just say how it is not the other way around. Christmas round the corner so well christmas present burn cash pretty fast ;-) we will see if it has any impact.
Will follow to see if we gain momentum.