BTCUSD might cool off till februari [Fractal, moving averages]
Updated
Potentially bull run rout of steam here, if we take the preceding run - which also had a lowering RSI without new high ranges - as a fractal precedent.
Confirmed on a daily close below the 20-day moving average.
Reconsider on a succesful retest of the 50-day moving average.
Eitherway, a divergence between the 20,50/200 isn't sustainable and RSI is dropping. Not a time to long BTC if you're willing to watch the market for a better entry. Think: valentine's day.
Perhaps it's alt's season, worth checking if mid august till mid october of this year were a good time for alts, as that's the kind of period it seems to me like we're entering (unless we daily close above 20k and all bets are off)
Confirmed on a daily close below the 20-day moving average.
Reconsider on a succesful retest of the 50-day moving average.
Eitherway, a divergence between the 20,50/200 isn't sustainable and RSI is dropping. Not a time to long BTC if you're willing to watch the market for a better entry. Think: valentine's day.
Perhaps it's alt's season, worth checking if mid august till mid october of this year were a good time for alts, as that's the kind of period it seems to me like we're entering (unless we daily close above 20k and all bets are off)
Note
If we drop below the 50MA we'll still slowly keep going up until the moving averages catch up as you see in this chart happening on the 8th of october / where the second red box starts. And then we get another energetic bullrun.Note
obviously we did daily close above 20k as soon as i posted this and the idea is invalidatedTrade closed: stop reached
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