Looking at BTC
on the 4H (4-hour timeframe) the move up over the weekend was not strong enough to pierce the 50MA on the 1D, it was actually rejected(50 Moving average on the 1 Day Timeframe.) if Price closes above the 50MA on the 1D and volume
is strong then it could be time to consider a way to join the trend. Right now looking at the 50and 200MA on the 4H you can see that it is offering weak support and staring to form a death cross as well. A drop
in price is imminent unless buyers step in fast. If price falls below $10.478 it will signal a return to the bottom $9800K - $10K area. I am still out sitting on cash, when will I go in? In two scenarios; If BTC
goes over the triangle (The red trendline
) or if alts hit my buy zones. Follow me and you'll be notified of which Alts and when to buy-in. All of this is of course for your paper trading.