BTCUSD might cool off till februari [Fractal, moving averages]
Potentially bull run rout of steam here, if we take the preceding run - which also had a lowering RSI without new high ranges - as a fractal precedent.
Confirmed on a daily close below the 20-day moving average.
Reconsider on a succesful retest of the 50-day moving average.
Eitherway, a divergence between the 20,50/200 isn't sustainable and RSI is dropping. Not a time to long BTC if you're willing to watch the market for a better entry. Think: valentine's day.
Perhaps it's alt's season, worth checking if mid august till mid october of this year were a good time for alts, as that's the kind of period it seems to me like we're entering (unless we daily close above 20k and all bets are off)
Confirmed on a daily close below the 20-day moving average.
Reconsider on a succesful retest of the 50-day moving average.
Eitherway, a divergence between the 20,50/200 isn't sustainable and RSI is dropping. Not a time to long BTC if you're willing to watch the market for a better entry. Think: valentine's day.
Perhaps it's alt's season, worth checking if mid august till mid october of this year were a good time for alts, as that's the kind of period it seems to me like we're entering (unless we daily close above 20k and all bets are off)
Comment:
If we drop below the 50MA we'll still slowly keep going up until the moving averages catch up as you see in this chart happening on the 8th of october / where the second red box starts. And then we get another energetic bullrun.
Comment:
obviously we did daily close above 20k as soon as i posted this and the idea is invalidated
Trade closed: stop reached