BTC: Bullish Above, Bearish Below

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It’s been a complete mess with these Death & Golden Crosses during this 2-week consolidation.

Within such a short period of time (2 weeks) we got 2 Golden Crosses, 1 Death Cross, 1 averted Golden Cross & 1 averted Death Cross. This shows how volatile and at the same time indecisive the market has been lately.

It’s interesting that these decent fluctuations have taken place exactly around EMA200.

Below -> Bearish; Above -> Bullish

The crossing between EMA50 & EMA200 has been useless, so it’s better to simply use EMA200 as a trigger to short or long when the price crosses it.


Such a highly volatile sideways chop was in late February - earlier March 2018 right after that nasty 50% crash (this year we experienced a crash of that same caliber) - first touch of 6k that year.
During that period of time we got almost the same sequence of false crosses and eventually that chop did not end well for the bulls. Keep that in mind.


We continue to travel within this upward channel
Notice how the major moving averages (EMA50, EMA100 & EMA200) flattened out extremely close to each other forming a decent Support / Resistance Cluster. Right now we are above it, so the bias is bullish, but it might change and you have to be ready for this. The volume keeps declining which does not favors the bulls but at the same time it suggests a resolution a.k.a Big Move is very close.

We can even see it this Friday because it is the CME BTCJ20 futures expiration date. These are the December Futures and they were opened on Dec. 16th at around the same price we are at right now.
We may stay relatively close to it until the expiration and after that the party begins, for example, on Monday (does not necessarily have to).

Don’t forget there’s a pretty big CME Gap right at the top of the channel

As the time goes by the channel’s support goes up since the channel is rather steep. The downside is limited by the base of the channel which is right now at 6300.

Oh, almost forgot - BTC Halving is less than 20 days away, so there’s defiantly going to be a Very Big Move. Are you excited? I am!



P.S. The long-term view has not changed



What do you think about it? Share your thoughts in the comments!




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The information given is never financial advice. Always do your own research.