I was doing a stroll looking at Bitcoin while removing any previous analysis I've done on it and found something that I had previously missed. On the daily timeframe, We have continually been suppressed by major moving averages all the way down:
March 28, 2022 - This is the last time we tested the 200SMA (Daily). April 21, 2022 - This is the last time we tested the 100EMA (Daily) before having a huge drawdown that lasted several months July 20, 2022 - Test of the 55EMA that was found with a small rejection, but a penetration of the level just 9 days later. On August 15, while the stock market was making a significant move, BTC did not even test the 100EMA before falling. No test of 100EMA September 13, 2022 - Yet again we are above the 55EMA but still no test of the 100EMA - another rejection. October 27, 2022 - We break above the 55EMA and bounce for several days between the 55 and 100EMA. Could this be it??? Are we going to break up this time? We successfully test the 100EMA and just 2 days later are SWIFTLY rejected and fall to NEW LOWS. December 14, 2022 - We test the 55EMA and the daily shows a bearish doji on above average volume with follow through (on above average volume)
It's also important to note that although yesterday was Saturday, the "green" candle we had was on low volume. Also, on the 4h timeframe, we're below the 200SMA as well and have been consolidating below it ever since breaking it. The daily wave is also still pointing down.
Get above that 200SMA on the 4h, and things could start to look better.
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
Access our private indicators and join our Premium Room: bitdoctor.org
Beware of scams - I'll never DM you asking for funds.
يعمل أيضًا:
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.