BTC- Moving Average Drama on the weekly.

BTC- Moving Average Drama on the weekly.

Kommentera:

Moving Average Drama
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The 50 Moving Average Crossing
on top of the 20 Moving Average is
not a good sign as it usually precedes a
drop. So best to be alert here ..
Green = 20 MA
Yellow = 50 MA

Kommentera:

The last time the 50 MA crossed
the 20 MA on the weekly was in
2014-08-25 so this is an usual event.

Kommentera:

my interpretation is BTC could go till around 7600 -7900 and then start a new downtrend which should take it to the 4K area

Kommentera:

The real bounce will be at the 4K area is my suspicion.

Kommentera:

in 2014 when the price dropped after the MA cross, the price fell from 520 to around 160. This is about a 1/3 fall . if this same procedure is followed we can expect to see the price of BTC reach as low as 2300 before a full rebound to the moon

Kommentera:

Question : What can a fella do to protect the earnings against this possible downward movement ?
Answer: Set a stop loss to exit below 6400 and buy back in later

Kommentera:

Last piece for FUD for the day :
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in 2014 fell from 1197 to 170 on 2014 thats around a 7x drop .
if that occurs this bear run , a 7x drop from the top will put BTC at around 2800

Kommentera:

Ill try that again in English

Last of piece for FUD for the day :
--------------------------------------------
in 2014 BTC fell from 1197 to 170, thats around a 7x drop .
if that occurs this bear run a 7x drop from the top will put BTC at around 2800