#BTC Bottom
For about 3 months on Telegram, we have been watching this chart w/ one simple message
"There is NO reasonable thought of a bottom until both $BTC Price & $BTC relative strength vs the market establish themselves above the H4 200ema"
For about 3 months on Telegram, we have been watching this chart w/ one simple message
"There is NO reasonable thought of a bottom until both $BTC Price & $BTC relative strength vs the market establish themselves above the H4 200ema"
This has served me well as we have put together a series of Lower highs
The last cpl of weeks we have been targeting a mean reversion test of the h4 200ema around $40-$41k and we are approaching the level now
#BTC needs to establish itself above this level & hold it on a retest
The last cpl of weeks we have been targeting a mean reversion test of the h4 200ema around $40-$41k and we are approaching the level now
#BTC needs to establish itself above this level & hold it on a retest
I'll drop some charts here for some historical context of these levels of tops and bottoms
I prefer this reading for "confirmed" bottoms. However, you'll notice the reverse of this signal certainly brings on pain for the Price of #BTC
I prefer this reading for "confirmed" bottoms. However, you'll notice the reverse of this signal certainly brings on pain for the Price of #BTC
On this chart & some older ones we were discussing mean reversion LONGS to the DAILY 20sma & H4 200ema
The benefit of waiting for CONFIRMATION of a bottom is that you can play these LONGS & get out w/ your profit b/c you are waiting for confirmation before TRUSTING these moves
The benefit of waiting for CONFIRMATION of a bottom is that you can play these LONGS & get out w/ your profit b/c you are waiting for confirmation before TRUSTING these moves
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