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1/6 $BTC Macro using Volume and Weekly 200/50/20MAs
"History Rhymes but doesnt Repeat"...2015 is different from today but there are similarities...
200MA
-Price bounced off the 200MA same as 2015
-Price pierced but never closed below the 200MA in 2015 and I expect the same...
"History Rhymes but doesnt Repeat"...2015 is different from today but there are similarities...
200MA
-Price bounced off the 200MA same as 2015
-Price pierced but never closed below the 200MA in 2015 and I expect the same...
2/ Volume Gaps
-There are 2 volume gaps that price wants to fill
+2700_3200
+4400_5800
-At some point I expect a wick down into the 2800 region with a weekly close above the 200MA. This could be soon OR the "spring" that marks the reversal from the bear market months from now
-There are 2 volume gaps that price wants to fill
+2700_3200
+4400_5800
-At some point I expect a wick down into the 2800 region with a weekly close above the 200MA. This could be soon OR the "spring" that marks the reversal from the bear market months from now
3/ 20+50 MAs "Then"
-In 2015 price was continually rejected by the 20MA
-Squeezed by 20 and 200 to breakout to the 50MA where it was rejected confluent with the "6K" of that time
-Price retested lows to create a "spring"
-20MA crossed the 50MA and price rode the 20MA to 20k
-In 2015 price was continually rejected by the 20MA
-Squeezed by 20 and 200 to breakout to the 50MA where it was rejected confluent with the "6K" of that time
-Price retested lows to create a "spring"
-20MA crossed the 50MA and price rode the 20MA to 20k
4/ 20+50MAs "Now"
-Price has been rejected by the 20MA
-20MA is moving closer to the 200 for a potential squeeze
-50MA, currently at 6590, is moving closer to the 6k ceiling to reject price should it get there
-Potential projection similar to 2015 attached
-Price has been rejected by the 20MA
-20MA is moving closer to the 200 for a potential squeeze
-50MA, currently at 6590, is moving closer to the 6k ceiling to reject price should it get there
-Potential projection similar to 2015 attached
5/ Monthly View
-Price pierced but never closed below the 50MA
Side Note: This also would create a textbook Wyckoff accumulation range. For more info on that and to understand what a "spring" is, see:
-Price pierced but never closed below the 50MA
Side Note: This also would create a textbook Wyckoff accumulation range. For more info on that and to understand what a "spring" is, see:
6/ Anything is possible...
This scenario is just one I am watching. Price could also dip into the 2800 region any day now. It could even plummet down towards 1k and consolidate there for awhile...i find this scenario less likely but as always with markets, anything is possible.
This scenario is just one I am watching. Price could also dip into the 2800 region any day now. It could even plummet down towards 1k and consolidate there for awhile...i find this scenario less likely but as always with markets, anything is possible.
Id be interested in your views on this thread, specifically a break/hold of the W 200MA...@MustStopMurad @CryptoQF @edwardmorra_btc @Thrillmex @rektcapital @CoinDeskMarkets @CryptoTrooper_ @Broccolex @crypto_birb @BTC_JackSparrow @BigCheds
Update: 50MA down to 6286 and 20MA at 4578. I expect some ranging between 3300-4k for a few weeks before the retest of the high 5Ks
