EhhEhhRon

Pay attention to moving averages

Long
COINBASE:BTCUSD   Bitcoin
While patterns and structures are great....moving averages (and their convergences) are IMO the ultimate indicators you should be paying attention to. As the 100MA approaches the 200MA, I would expect bitcoin to come up and test the the 200MA before the cross actually happens (which will be somewhere around 43-45k). If bitcoin were to somehow pull the 100MA back up over the 200MA in the week(s) following this cross, it would be an indicator that the market has completed it's short term correction and is ready to test higher highs. However I think this is unlikely and believe that we would then be looking at lower lows shortly after the cross. These are all just probabilities though and thus this should not be taken as financial advice.

My trading strategy:
Short term until cross = Long
Long term after cross = Neutral/Short
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.