The 2 week graph shows that the MA20 (green line) and the MA50(yellow line) are set to cross in about 3 days at point C,
A look back at previous crosses 'A' and 'B ' show that when this MA cross occurred BTC moved down and average of 28% and 20%.
Hence my though is that BTC will most likely move back down to the 20k to 19K area and this move up could be a Bull-trap
Another thing toi be aware of is that from the Monthly graph the uptrend begins when the Green and Red line on the Stochastic
below cross over and the Stoch moves back above the bottom stoch line. This is shown at Points 'A' and 'B ' on the Stoch.
This cross has not occurred yet at Point 'C' so its probably best to be patient and wait for the bullish Stoch cross on the monthly chart
A look back at previous crosses 'A' and 'B ' show that when this MA cross occurred BTC moved down and average of 28% and 20%.
Hence my though is that BTC will most likely move back down to the 20k to 19K area and this move up could be a Bull-trap
Another thing toi be aware of is that from the Monthly graph the uptrend begins when the Green and Red line on the Stochastic
below cross over and the Stoch moves back above the bottom stoch line. This is shown at Points 'A' and 'B ' on the Stoch.
This cross has not occurred yet at Point 'C' so its probably best to be patient and wait for the bullish Stoch cross on the monthly chart
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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.
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.