The current fight over the death cross is very reminiscent of 2018, following the blow off top. The most important thing I have noticed is how aggressive the bears have become to sell off into any rally attempting to prevent the death cross.
Just something I noticed as I've been following the 377EMA and the 200SMA (thanks to Eric Crown). This is more of a general market trend and not necessarily a price prediction.
I've identified 3 fwactals(!) on the 2 hr time frame, with a change of behavior on the 3rd one.
Previously, BTC would make a new high, and then drop below the 200SMA and grind out...
Obviously it can, and XLM provides an excellent case study in how indicators especially the RSI and Stoch can remain "over sold" for as long as the market desires.
With that said, it does look like it's consolidating at 850, yes EIGHT HUNDRED AND FIFTY SATS. I had to do a double take when I saw it, insane that this traded at 4000+ sats not too long ago.
Could this be a repeat of BTC's prior bull market blow off tops? The next few weeks will be interesting to see if it can maintain it's current bullish posture on MAs.
For some reason Bitstamp deleted it's pre-2017 market data, otherwise I'd show lower time frames. The December 17/January 18 blow off is looking very similar to present.
Best to take risk off the...
BNB is bouncing from support, and will probably go to retest the support trendline it broke down from around .0036-37 sats. There's some nice confluence with MAs around that point, so I lean towards it getting rejected from here. I'd short the retest of the trendline.
BITMEX:XBT is now printing a red 9 on the TD, and providing a buy signal. As you can see the TD Sequential has been fairly consistent in providing good setups on higher time frames.
This coupled with the fact that we are going into the weekend, and a holiday (both are usually periods dominated by inherently bullish retail traders) - I expect BTC to retest prior...