Incoming Death Cross 128-200 BTC (Short bullish, Medium bearish)
I'm still a super long term Bull on Bitcoin, this is the most valuable asset of our time. My TA here is for entertainment purposes and is my opinion only. We still have a bearish weekly chart more resistance points than support.
The short squeeze and whale activity back on 4-12-18 imho is causing this latest bull run to last a long longer than it should. Instead of bottoming out in May, we may see a bottom closer to June now. There is not enough volume showing up yet to keep this going, for a real medium bullish trend, we need to break 10k, hit 12k then test 10k as support then the short/medium term bearish trend is over. So far that does not seem to be the case, imho.
Play close attention as the next death cross happens and we are closer to the weekly trend point (Yellow lines).
The short squeeze and whale activity back on 4-12-18 imho is causing this latest bull run to last a long longer than it should. Instead of bottoming out in May, we may see a bottom closer to June now. There is not enough volume showing up yet to keep this going, for a real medium bullish trend, we need to break 10k, hit 12k then test 10k as support then the short/medium term bearish trend is over. So far that does not seem to be the case, imho.
Play close attention as the next death cross happens and we are closer to the weekly trend point (Yellow lines).
Comment:
Death Cross incoming on the Daily MACD as well. I'm sitting in all Cash atm... was playing it too risky day trading in the 9100-9400 range the last several days.
Not planning on entering back into the market till the 8200 - 7800 range and below.
Not planning on entering back into the market till the 8200 - 7800 range and below.
We are inching closer to the next Death Cross.