close point 5:00 p.m. October 29th
Break out above 9500 or below 9000
Stop loss At 9000 or 9500
Retest heavy resistance at 9800, if confirmed = short entry
This is March 1, 2018.
We broke downward of the 200 DMA.
Then MACD coming hot and fast back up to 0 breaking above the 200 DMA with it.
RSI setting a new lower high after a new lower low which came after the three over bought peaks matching movements with the MACD.
These key points are happening here again but on a shorter time span.
Differences here, 2018 this lead up to the death cross, and 2019 the death cross is now.
point 1
Nov 15 BTC 8300 Upward trend from the last 6 months
Upward trending support starting from April 1 and tested the 200 DMA on Apr 25. A false break down of this trend on Oct 23. Giving the weekly MACD time to consolidate to zero and a good setup to test point 3
point 2
Thankgiving BTC 8800 200 DMA
Where the previous stated uptrend meets it's top to it's triangle at a closing point of 8800 the week of thanksgiving, The 200 DMA should cross through this point.
point 3
Thanksgiving BTC 10600 THE SHORT
The point where this whole thing comes together from the weekly.
This point at Thanksgiving would be the key factor deciding which trend we follow, possible challenge to cross back north of 200 DMA, mostly bearish based on the weekly MACD and if the stochastic RSI recharges to half. Grab you short here, maybe the last high before another year of consolidation.
point 4
6 Months after point 3 BTC 6700 THE CLOSE
Give the weekly MACD 6-10 months to consolidate, go under, and find our bottom supports, meeting up with the 200 WMA around 6700, then the next wave should begin to the 9-10k mark and consolidation again. Call me again in 2021 when we have another rally past 20k
Comment:
Just got faked
Comment:
Looking for that false break up for an entry 9600-9400 stop loss 9650+ GOAL 8300-7700--
Trade active:
Here's your entry, 9350 on Nov 2
