Bitcoin Weekly Also Closes Below EMA50 Short

Bitcoin / U.S. dollarBitstamp

Opis

⋅ 11 kwi 2022 02:47

EMA50 is a strong indicator on the daily timeframe for Bitcoin/Crypto... It gives out a signal 7 times stronger on the weekly timeframe.

Bitcoin closed last week below EMA50 losing a strong support.
The volume is non-existent now... It turns like this before a strong move takes place.

There can still be some "snake" action like we see late 2019 - Q1 2020... or between April and November 2018...

But these signals are telling us of a potential price drop (fairly strong).

How far down will it go?

It doesn't matter... It will move back up.

Namaste.

Komentarze

entropi

⋅ 11 kwi 2022 05:45

Thanks Alan, we agree with your analysis! Our view is that a low between $39-35K is likely to come very soon.

entropi

⋅ 11 kwi 2022 05:45

This is supported also by BTC's extremely good fit to the famous Justin Mamis Sentiment Cycle macroeconomic pattern. I've just published an idea analyzing this further, curious about your thoughts!

Mastane

⋅ 11 kwi 2022 03:12

Thank you very much for analysis
🙏🏻🌹

ICP_holder

⋅ 11 kwi 2022 20:31

yes this chart is true

Three_Men_in_a_Boat

⋅ 11 kwi 2022 20:24

amazing chart

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