Hi All,
With all eyes on BTCUSD, I wanted to make sure we weren't missing this.
With the weakness in the monthership taking hold, and volumes going off a cliff i'm not expecting the bright green dotted trend line to hold for too long. If that goes we'll see the Death cross form on either the next candle or the following one.
I'm trading long side only so will look for confirmation of support at 0.93 before entering (or wait for total collapse if not!), but if we can turn there I'd expect to see us reverse back up to 1.15-1.23, with any up move meeting strong resistance against the 3h 200EMA (seems to have been bouncing off that for the last few weeks). Obviously all of this will be very dependent on whether or not BTCUSD manges to hold above 7200, if that fails I'll be waiting for entry somewhere in the area of 0.74-0.64.
As ever, these are just my musings, not a recommendation.
Happy hunting!
mr_bump
With all eyes on BTCUSD, I wanted to make sure we weren't missing this.
With the weakness in the monthership taking hold, and volumes going off a cliff i'm not expecting the bright green dotted trend line to hold for too long. If that goes we'll see the Death cross form on either the next candle or the following one.
I'm trading long side only so will look for confirmation of support at 0.93 before entering (or wait for total collapse if not!), but if we can turn there I'd expect to see us reverse back up to 1.15-1.23, with any up move meeting strong resistance against the 3h 200EMA (seems to have been bouncing off that for the last few weeks). Obviously all of this will be very dependent on whether or not BTCUSD manges to hold above 7200, if that fails I'll be waiting for entry somewhere in the area of 0.74-0.64.
As ever, these are just my musings, not a recommendation.
Happy hunting!
mr_bump