BTC losing steam
Looks like BTC is losing momentum, i will keep it simple:
1. MACD bear cross over on the weekly time frame.
2. Volume is decreasing
Moreover, i am paying special attention to 2 indicators which are:
a. Fibonacci time zones
b. MA500
The first one is very interesting to me due to the fact that:
The time elapsed between the second ATH and the Third ATH iquals to 1.618 x (time elapsed between the first ATH and the second ATH). According to these calculations and applying them to the All time low cycles, it is expected to be around 2k by 02/2020. (MA500 will be around that value by that time).
Additionally, BTC cycles are getting wider, in other words, will last more than the previous one, thats why i dont expect a bullrun yet.
NOTE: not financial advise and happy trading.
1. MACD bear cross over on the weekly time frame.
2. Volume is decreasing
Moreover, i am paying special attention to 2 indicators which are:
a. Fibonacci time zones
b. MA500
The first one is very interesting to me due to the fact that:
The time elapsed between the second ATH and the Third ATH iquals to 1.618 x (time elapsed between the first ATH and the second ATH). According to these calculations and applying them to the All time low cycles, it is expected to be around 2k by 02/2020. (MA500 will be around that value by that time).
Additionally, BTC cycles are getting wider, in other words, will last more than the previous one, thats why i dont expect a bullrun yet.
NOTE: not financial advise and happy trading.
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