[XBT/USD} Important EMA dead-cross!
Therefore, we can conclude that we got bounced already at the defense zone(where I mentioned in my last posting), and successfully escaped worst scenario.
However, it is little bit early to be safe, there is one thing we have to look at for few days.
Let`s see current situation.
First of all, we have to look previous golden cross between 20ema and 50ema at 24th Feb ( ).
After the golden cross, it goes all the way up to $13,914 and NO DEAD CORSS between 20 and 50 UNTIL END OF AUG.
Generally, golden cross between 20ema and 50ema is really powerful signal to long.
In bull run from $1K to $20K, you can see 20 is almost always above 50 ema:
Yeah, I know you are watchful, smart, sharp people and might have found 3 fake dead crosses
Let me ask you a question
"what do these fake dead-crosses have in common?"
"fake dead crosses were almost always invalidated within very short period"
Therefore, the more it takes time to invalidate dead cross, the more it is likely to be "real" dead cross
Now we are heading to really important .
There will be tons of blood at $10,300.
Of course we don`t need to bleed our own money :)
Even if it goes to real dead cross, you don`t need to worry.
let`s look below:
Even "real dead cross" happens, we can still positively accumulate more BTC following whales movement in long period.
We have already experienced long long looooooonnnnnnggggggg boring downtrend, and we are smart, sharp, watchful (as I mentioned above) enough to make money in the downtrend!!
Personally, I hope BTC to recover at $10,300 ish
I don`t mind longing at $10,250 ish now, and waiting 1~2 more days.
But I will NEVER put long position 3 days later, if it goes wrong.
It tried to break up, but rejected so badly.
This downfall is hanging around the key level $10,300 ish.
You might have long position at $10,250 as I told you yesterday.
I didn`t mind it, it was totally ok.(and of course it is $90 profit now)
But honestly, I am not huge fan of that action, and recommend you to take small profit, not to be so greedy.
For those whom are ultra greedy, I will tell you something.
In FA perspective, gold, silver, usd, eur were down little bit.
There is some possibility that moeny flows into crypto market ........ or "stock market" from those assets.
As this posting is based on ema perspective, lets see DJX as ema perspective.
It is about to make golden cross 20 ema and 50 ema.
What if stock market also going down?
People want to buy BTC more likely to preserve their asset value.
Therefore, if DJX fails to make golden cross, it might be a good signal to buy btc, HODL long from $10,250 :)
Therefore it is more likely to be real dead cross.
If it break down bottom line and pull back, almost every traders are ready to short entry.
I highly recommend you to enter short RIGHT NOW.
Don`t need to wait the pull back.
I am sorry that I haven`t updated btc, but I didn`t need to update anything :)
Now btc price is trying to break up triangle, which I think it most likely fail (around 70%)
We will see direction within few days