Look out below! 20 EMA crossing 50 EMA, or is it?
Updated
Now I KNOW that many traders don't like "lagging" indicators like the EMA's. I get it. However, for those that DO see significance in the EMA's the 20 EMA has crossed the 50 EMA on the 4hr chart. This USUALLY means that a steep drop is soon to follow. Having said that I will concede that this crossover is a bit more shallow than most and there is at least one example (March 23rd) where the crossover was super shallow (more so than current crossover) and led to an uptick, though shortlived. I would encourage you to look at the historical data and determine for yourself if this crossover is significant enough to base a decision on. For me, it is. I am confident enough to stay in fiat, even though prices at this moment are tempting, and wait a bit longer for more downside and even better opportunity to increase my BTC count.
Good luck!
Good luck!
Trade active
Well that didn't go as expected. If you look at the entire history of Bitcoin what just happened with the 20 EMA crossing the 50 EMA then bouncing up hasn't happened before this same way. This is why some people don't like lagging indicators! That said, there is time yet to play out before I'll concede but for now It's looking like I was wrong.Note
Ah Patience. So BTC did a thing then proceeded to follow the normal pattern produced by the 20-50 EMA crossover. The 200 EMA is just below and I expect a reasonable bounce off of that. I bought in at 8919........Note
I should have trusted the crossover! I could have bought in much lower if I had. I knew it yet didn't trust it. There will be a next time.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.