BITCOIN ⚒️ Miner Post Halvening Drop? 🤮

15 maj 2020

Confluence of indicators had a Change of Character 👍🤪👎😬

• 💚 In the past, when BTC Hash Rate dropped to its 200 Day Moving Average + RSI Oversold 💁 + On Balance Volume was at Support 💁 = Excellent Buying Opportunity.
  
• 🔴 Currently, BTC Hash Rate dropped to its 200 Day Moving Average... BUT RSI Overbought and rejected at Resistance 🙅 + On Balance Volume Rejected at Resistance 🙅 = Maybe this foreshadows a miner capitulation?
  

ℹ️ On Blockchain website
*Hash Rate (Raw Values) = Lower Low
*Miners Revenue = Major Drop in Rewards

How long can these miners HODL before they need to take profits?

🚨 Although, this is posted as a Short. I am not in a short position, just holding cash, waiting for the next buying opportunity!

16 maj 2020

Uwaga

If you were going to Short, here is your confirmation that the Uptrend has been violated. Stop Loss would be 3% above break of pitchfork.

17 maj 2020

Uwaga

Nice rebound off the 200 Exponential Moving Average on the 1 Hour timeframe. 😮

But I am suspicious of this price breakout above the $9,400 Resistance because the On Balance Volume has been trending down while the price has chopped sideways.

I dunno how much higher the price can go. Most likely a Bull Trap. 🐂🗡️

💡 The On Balance Volume would need to breakout of the red zone I drew... for me to flip bullish. I'm not in any position, just patiently waiting for now.