UnknownUnicorn4304403

Bitcoin 4hr chart 10/16/2019

BINANCE:BTCUSDT   Bitcoin / TetherUS
Im having a look at the 4hr chart this morning and we have fallen away from the 50 MA and the cloud on the chart. We were stuck fighting with he 50 MA to try and make it support but we lost the fight and fell. Now we are below the cloud and that isnt necessarily bullish. Its been a slow bleed on our way down from the recent spike we saw that took us to approximately 8800. I do see that the RSI is low right now which is the most bullish sign I see on this chart. The 200 MA on the daily is what we need to conquer to start climbing and the fact that a death cross (also on the daily) is coming our way it is no wonder I am bearish. The Bolinger bands are still pretty tight on the 4hr and they are also tight on multiple other time frames which suggests that a move is coming. Path of least resistance is down. One thing I can say is BTC likes to prove people wrong. We are currently trading at 8130. Daily volume as of right now is at $15,042,513,217 which is average. This market is cyclical and there is always an opportunity in front of you. But WTFDIK?
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