Too good to be true

5658 43
Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
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It Broke downwards from the triangle and the price is below $2500 while I am commenting here, I guess it can go to 1250, the highest support level.
The politics around Bitcoin hasn't settled yet and the market is extremely sensitive as a result. We'll see some unpredictability in the price movement between now and early August. We'll see it again in November. Caution against Bull signals until mid August to Early September. Rinse and repeat in late October.
Sorry I meant 6H timeframe. 9dma crossing the 20dma down, and last time it did that BTC fell from 3000 to 2050. We can safely say on that timeframe, a crossover down is good for some 700 points. Which parts the downside target on BTC around 2222. And ETH around 180. I would not go long until MACD is done completing its downcycle and turns back up, which means a few more days of consolidating, and also means more shorting on any impulse bounces until then.
If you can measure the MACD on different time frames, and compare to where the moving averages are projected to move, you can see that BTC and ETH were headed down. This was because we were closer to MACD crossing down than up on daily timeframe, which is good for 200+ point moves. My gut said ETH would stall at upper trendline, and that BTC would pull back to 2200 to 2400 region. I still feel that way. 2200 would be a great buy, but not sure of upside targets. ETH descending trendline still acting as resistance. So target is 220 on ETH.
Bull ran out of energy, please wait as it refills.
wow makes sense
Too good to be true
So due to break down this chart is not valid. New bie hear.
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