Traders-Corner

7 & 20 day MA's cross 50 day. Long trade setup for slower ascent

Long
BITTREX:OCNBTC   None
Hi All,

As the title says the 7 & 20 day MA's have crossed the 50 day MA. This correlates with the previous bull run back in September 2018. Our 200 day MA has also started to flat line and cease its decline.

Interestingly in 2018 our bottom trading range lasted 26 days before confirmed break out and consequential bull run occurred. In the 10 days following the 7 & 20 day MA's were crossed.
We are seeing a similar and mirrored pattern here with the exception being we have crossed the 50 day MA a few days early.

Our current trend line (orange) however is not as steep as back in September although this can change in the coming days. Our RSI trend line is also not as steep. This would suggest perhaps a slower ascent than that of last time. Lastly volume is also not mirroring previous bull run which is concerning, although it has significantly picked up from the 26 day period preceding this MA cross.

A lift in volume and hold of the current trend line would provide extra support to this analysis.

A confirmed break below the orange trend line would invalidate this analysis.

Confirmed bounce off trend line could provide entry at approx 0.00000065. Full days confirmation above line can also provide entry timing and breakout confirmation.

Profit taking;
0.00000100 @ 54% Profit
0.00000145 @ 123% Profit
0.00000170 @ 161% Profit

Please let me know your thoughts.

Trading Corner.

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