BTCUSD - downtrend after 20SMA breaks down through 200SMA
A follow on from my early chart that called us down to BTCUSD $3550.
At the time of writing this we still haven't broken $3550 but just touched it, (called it! :D )
Warning from a trusted signal to me though, it looks like the 20MA is about to break down through the 200MA on the 1 hour chart...
Every time it's done this in the last month it's been followed by a large sell off.
SHORT - Target price somewhere above $2400
PS: Lord save us all if BTC breaks down through $2400.
At the time of writing this we still haven't broken $3550 but just touched it, (called it! :D )
Warning from a trusted signal to me though, it looks like the 20MA is about to break down through the 200MA on the 1 hour chart...
Every time it's done this in the last month it's been followed by a large sell off.
SHORT - Target price somewhere above $2400
PS: Lord save us all if BTC breaks down through $2400.
Comment:
crossover becoming more clear... only barrier to a big drop now is $3550 (ref: www.tradingview.com/...s-and-declining-FUD/)
break that and we drop far....
break that and we drop far....
SHORT - IF we clearly break $3550 - Target Close somewhere above $2400
Currently a very weak bounce up of $3600 - seems to be no energy to get above $3640. If the attempt repeats fail then likely to retest daily lows.