Several months ago I posted a chart and commented on the 2017 Bull Run played off the
Weekly 21 EMA. This Bull Run has not tested the Weekly 21 EMA in over 30+ weeks!! It's called a "Moving Average" and the average is way over due. The 21 EMA also lines up with the middle Bollinger Band... I like the confluence. A dip below the 21 WEMA for a day or 2 is possible in order to fill in the VPBR and make a solid Volume Profile. That dip would be to $38-$40K
So... In Short more downside would at least graze the Weekly 21 EMA, not touched in 32 Weeks, as long as BTC CLOSES ABOVE the Weekly 21 EMA , all is still healthy. Resets all indicators also.
Immediately down and a huge bounce👍
Please reply with your thoughts
Weekly 21 EMA. This Bull Run has not tested the Weekly 21 EMA in over 30+ weeks!! It's called a "Moving Average" and the average is way over due. The 21 EMA also lines up with the middle Bollinger Band... I like the confluence. A dip below the 21 WEMA for a day or 2 is possible in order to fill in the VPBR and make a solid Volume Profile. That dip would be to $38-$40K
So... In Short more downside would at least graze the Weekly 21 EMA, not touched in 32 Weeks, as long as BTC CLOSES ABOVE the Weekly 21 EMA , all is still healthy. Resets all indicators also.
Immediately down and a huge bounce👍
Please reply with your thoughts