Bitcoin 2D (Golden/Death) Crosses case study shows that after these crosses, price action will test one or more EMAs to confirm the cross and Bots & Algos.
Will it happen again this time?
With every 2D Candle close, the momentum between EMA200 and EMA55 becomes stronger to the downside.
Meanwhile, Bitcoin could test the 2 EMAs but the change of behavior is when a...
After a massive move and 50% drop, Bitcoin made a Channel (or Wedge or Triangle or Whatever). The point is this is a Distribution pattern as long as bitcoin is hanging below $7800 .
For Confirmation: Volume and Open Interest are going down as the Price is going up. So I'm Bearish as long as bitcoin is below $7800~$8000 and could test lower levels...
Weekly CME has been closed bullish. A Higher High is now Confirmed on CME Weekly scale. Also an Inverse Head and Shoulders is present which its target reach to $12k on CME chart and which is an unfilled gap in there.
It's weekend so expect some crappy candles. But the bigger picture is building quite bullishly.
The Open Interest is also quite high that suggesting...
