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peter-l
Jun 3, 2020 9:32 AM

Btc copied the same trend a year ago 

Bitcoin / US Dollar IndexBitMEX

Description

Yesterday I suggested that the daily line here macd divergence risk, but this is not before, because of the trend of this position, I have discussed in How Bitcoin went 14, so I don't think it is necessary to repeat my point of view. But now that the divergence has formed, I see a lot of people became confused. Because of the technical divergence, it is theoretically important to be short or leave the scene. But long shadow shows that the bulls are also very powerful, should you do more here?
I think a lot of people make mistakes, is in this position, is often in advance of the trend, in advance to wait, for fear of missing the car.
So I've found a few similar trends for you.
In the first half of 2019, Bitcoin also started a six-month bull market rally, with two major corrections, much like the current one.
On April 24, 2019, Bitcoin fell sharply, dropping 11 percent in two days, a month after breaking through $4,000 in April, ready to break through the previous trend, when many people were involved in contract trading and the two days of bursts were not in the minority.
June 3, 2019, it's amazing, history has crossed. Also a breakthrough trend, suddenly plummeted, two days down 14.8%, accompanied by the macd top divergence.
Comparing these trends, we find that the situation is very similar to the present, especially on June 3rd, the same time. I think only robots can do this kind of thing. But both plunges were on the way to a bull market, so they didn't change the trend, they sorted it out and quickly hit new highs. And the most important thing we see here is that their moving averages form support. So the core of our right-hand trade is double confirmation, which is an advantage that the left-hand trade does not have.
Now we see the moving average ma36 still supports the currency price, so yesterday I saw a lot of people shouting short, I felt a lot of worry.
Although I can't guarantee that my analysis is right every time, i can't guarantee that everyone recognizes my analysis style, let alone provide analysis articles every day.
But adhere to the key position, I still hope to give readers some tips, after all, many people do not have the ability to analyze, but also lack of foundation, it is easy to blindly operate.
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