Well Gents and Ladies, XRP has death-crossed. Its the harbinger of doom to come in ETH and BTC.
Last summer, 2019, I was expecting for Bitcoin's moving averages to braid, just like the picture below. The result of which was that I shorted every red candle and the levered stop losses chewed up all the gains I would have made. I was correct that the MAs were going to braid, but I didn't expect it to make full on Challah bread like it has now.
Again, looking below the HA candles on the daily are showing trend reversal in BTC; that could lead to a rally, or perhaps a reversal. Its a hard time to be a trader.
We may see solid landing volume here, the long, long lower wicks could evidence that the bears don't have the selling power, we blasted through all the liquidation points and people went back in. Or, or, its a bearish pennant, which would continue to the down side.
Last summer, 2019, I was expecting for Bitcoin's moving averages to braid, just like the picture below. The result of which was that I shorted every red candle and the levered stop losses chewed up all the gains I would have made. I was correct that the MAs were going to braid, but I didn't expect it to make full on Challah bread like it has now.
Again, looking below the HA candles on the daily are showing trend reversal in BTC; that could lead to a rally, or perhaps a reversal. Its a hard time to be a trader.
We may see solid landing volume here, the long, long lower wicks could evidence that the bears don't have the selling power, we blasted through all the liquidation points and people went back in. Or, or, its a bearish pennant, which would continue to the down side.
