Bitcoin Cloud Analysis (Weak Bull/Bear or Strong Bull)
Updated
As the FUD sets in over the past 5 days, I want to inform everybody on what I'm seeing with a more accurate understanding of the cloud.
The MA 50 (green) dipped under the MA 100 (orange) and MA 200 (red) again, symbolizing bear trend.
Note: for the info below, it depends on if has a bullish or bearish trend going forward
If the latter happens, and the MA begins to correct, we'll see another bull run, note the volume has also increased over the past 9-12 hours, a great sign for an uptrend.
Let me know if you think it'll make it below, inside, or even above!
The MA 50 (green) dipped under the MA 100 (orange) and MA 200 (red) again, symbolizing bear trend.
Note: for the info below, it depends on if has a bullish or bearish trend going forward
- If the Tenkan (Blue) crosses above Kijun (Yellow) below the cloud = weak bull
- If the Tenkan (Blue) crosses above Kijun (Yellow) inside the cloud = weak bear + lag on price
- If the Tenkan (Blue) crosses above Kijun (Yellow) above the cloud = strong bull
If the latter happens, and the MA begins to correct, we'll see another bull run, note the volume has also increased over the past 9-12 hours, a great sign for an uptrend.
Let me know if you think it'll make it below, inside, or even above!
Note
Seems in my attempt to use TA, extraneous factors have caused more crypto-fallout. If you make any buys, make sure to set stop-losses.
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