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milobowman
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About me Bad technical analysis is blindly following a certain method with no idea of why it works. Good technical analysis is understanding. If you want to make money, you have to know WHY markets act like they do, and WHY certain TA methods work.
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movingaverage supportandresistance Less Tags Show All Tags
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Bitcoin - at 200 day MA and 50% retracement. Significant support
BTCUSD, 1D
Long
BTCUSD: Bitcoin - at 200 day MA and 50% retracement. Significant support
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Buy here. Any sensible person (institutions) looking to buy after the last spike up would be waiting for the 200 SMA and a bigger retracement than simply the bottom of that triangle we were in. I certainly was. And now, it's at a more reasonable retracement, backed by the 200SMA, and I'm finally willing to buy after waiting a few agonising months. The bearish...

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