Bitcoin - This is something to watch today

2022年7月16日

Looking at the daily timeframe we can see that Bitcoin is a the top of a downward channel and at the top of a range. For the last few months when BTC has reached the top of either structure it has had a meltdown. This time, it has reached the top of both structures simultaneously. This is a timeframe and area that should be watched because if BTC closes above these two resistance points it will signal significant strength, however, the odds of melting around this point are very high.

Another signal/hurdle is within the 3-day timeframe, there is a 200ma /100ma death cross happening. A death cross is when a faster-moving average crosses down a slower-moving average, this on its own does not cause price to go down, instead, it is an indication of how far down we've come, but, it can be used as a signal to sell thus prompting a drop in price.
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2022年7月17日

註釋

Also, let's not forget that we are headed for the 5th week under the 200MA on the weekly timeframe (which is unprecedented) for Bitcoin. Unless there is a crazy plot twist today, we will close this week's candle under the white line. Yet another red flag.
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2022年7月18日

註釋

This battle is not over until next Sunday, but there doesn't seem to be a lot of force behind today's move. You sit up and notice a decisive candle, this so far has been a minor shot at the 200MA in the weekly timeframe.
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