Market Review / Apr. 12th : BTCUSD, SPX

FX:SPX500   S&P 500 Index
Hope this idea will inspire some of you !
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Indicators used in this forecast are PRO Sinewave BETA & PRO Momentum.
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You have predicted this ))

Update on this... this.. :o
Phil maybe you should reconsider your indicators. I'm not quite sure if this is stop-loss chasing but... I called the mega-bullish divergence some days ago
i love your analysis but the problem here is that you are focusing too much on btc TA. In the last days we were having different alts pushing, volume was picking up on different coins. The crypto eco-system was turning bullish. You should zoom out sometimes.
bitcoinbobby IamCryptoWolf
@IamCryptoWolf, who cares about alt coin moves in a bear market. You're talking about EOS jump. This was the only coin yesterday that had a bull run only because of the upcoming airdrop on the 15th. EOS will fall back down as this always happens as people want their free coins.
+1 Reply
IamCryptoWolf bitcoinbobby
@bitcoinbobby, sorry, but you are wrong. Alts as: ETH, ONT, NEO, ICX, BLZ, OST and many others. Selling pressure was exhausted
bitcoinbobby IamCryptoWolf
@IamCryptoWolf, those coins had little gains yesterday and yes selling pressure is exhausted. But this doesn't mean we're back into bull mode. ETH was up maybe 5% as well as others. BTC is still in the descending channel on the 1 day and I still believe it is the barometer of the marketplace. I believe what you're seeing is a bull trap move. Until BTC breaks out of the descending channel and confirms it as support I won't be so confident. The bears are still in control. Trust me I'd love for you to be right as I bought in the lows recently...but we'll see.
IamCryptoWolf bitcoinbobby
@bitcoinbobby, above i said that crypto market was giving bullish signals. We will see if it is a Bull trap at 11000s. Possible. Not so sure. Which descending channel do you mean ?
bitcoinbobby IamCryptoWolf
@IamCryptoWolf, I have the top of my descending channel passing through what I count to be the 4th bull wave in early March at 11,689. Granted I normally look at the 4hr to 1hr charts so I drew my trend line after the fact a couple weeks ago when I decided to look at the daily for longer term strategy. Regardless of the difference of trendiness the real test is confirming 20day EMA as support and seeing how bTC reacts if it gets near the death cross of 50/200 EMA. IMO this is a relief wave in the market, but only time will tell. I think we've all been disappointed a lot lately with BTC running out of gas and peaking.
bitcoinbobby IamCryptoWolf
@IamCryptoWolf, How do you share screen shots like above? Would like to collaborate.
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