Bitcoin - I see something you will like a lot!
Updated
If you have been following me you should be 60 to 65% into BTC or Alts depending on your preference. Keep in mind that BTC will not keep going down forever, at one point it will stage a rally to the 200MA, we just have to find out from where and when?
We know that we've had too many red candles in a row, which means that some green candles are coming for sure, so we now have to find the "where" meaning what juncture can generate a rally to the 200MA. I have found -- as you can see on the chart above -- an area of interest from where BTC can spring up to the 200MA. All of these lines meet around December the 6th. So the potential rally can happen anytime from December 1st to the 15th.
To be clear this means that we will spring up to around $9400, get rejected and fall back down. It is unlikely that we will continue up from this point. This is just part of life under a death cross, we still have to go through a boring period of consolidation before we get out of this mess as well.
Hitting the "Like" button is like a tip, please don't forget to do so after reading this is your way of paying me for my time.
To add to this, check out this chart that shows that the same will happen around also the same time with the total market cap around December 15th.
The takeaway
The time to make long term purchases for Alts is now, but do not commit 100% of your capital, wait for the rally to the 200MA. A rally can happen between now and mid-December. This is not guaranteed but the probabilities are very high and that's why we have to be on the lookout.
Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits.
Hit the "Like" button, make a comment and I'll see you on the next post.
NOW, THE LEGEND;
Support trendlines are green
Resistance trendlines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white
THE TREND: Going Down
THE OUTLOOK: Begining to see the end of the downtrend a rally may be coming soon.
We know that we've had too many red candles in a row, which means that some green candles are coming for sure, so we now have to find the "where" meaning what juncture can generate a rally to the 200MA. I have found -- as you can see on the chart above -- an area of interest from where BTC can spring up to the 200MA. All of these lines meet around December the 6th. So the potential rally can happen anytime from December 1st to the 15th.
To be clear this means that we will spring up to around $9400, get rejected and fall back down. It is unlikely that we will continue up from this point. This is just part of life under a death cross, we still have to go through a boring period of consolidation before we get out of this mess as well.
Hitting the "Like" button is like a tip, please don't forget to do so after reading this is your way of paying me for my time.
To add to this, check out this chart that shows that the same will happen around also the same time with the total market cap around December 15th.
The takeaway
The time to make long term purchases for Alts is now, but do not commit 100% of your capital, wait for the rally to the 200MA. A rally can happen between now and mid-December. This is not guaranteed but the probabilities are very high and that's why we have to be on the lookout.
Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits.
Hit the "Like" button, make a comment and I'll see you on the next post.
NOW, THE LEGEND;
Support trendlines are green
Resistance trendlines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white
THE TREND: Going Down
THE OUTLOOK: Begining to see the end of the downtrend a rally may be coming soon.
Comment
I should clarify that even if we make a rally to the 200MA that does not rule out going back down and possibly to the mother of all buy zones. Which due to the weekend meltdown is now in play.
Related publications
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.