BTC update 19th July 2018 Full steam ahead or profit taking zone
Hey guys, quick update to catch up. I havent been posting much lately been busy with the house.
Bullish Case: Upon close we will have our EMA average buy signal. The streght involved in previous upmove has not been since december so life is coming back into the market.
Bearish Case: There is strong resistance overhead with the 100D SMA, 144D EMA, previous diagonal resistance, and about to reach overbought on Daily RSI.
Additionally we have a sell signal from my bolingerbands and divergance on the 4 hr.
If you participated in this run up i'd advise consider taking profits off the table for a while. During bear markets capital preservation and risk management are key instruments to utilize.
Even if you favor the bullish side, jumping out now or reducing your position is wise inorder to reduce risk. Remember to let the market prove the trend wrong, not you prove the market wrong. Best of luck
Sell signal from bolinger bands
Divergange on the 4 hr
Bullish Case: Upon close we will have our EMA average buy signal. The streght involved in previous upmove has not been since december so life is coming back into the market.
Bearish Case: There is strong resistance overhead with the 100D SMA, 144D EMA, previous diagonal resistance, and about to reach overbought on Daily RSI.
Additionally we have a sell signal from my bolingerbands and divergance on the 4 hr.
If you participated in this run up i'd advise consider taking profits off the table for a while. During bear markets capital preservation and risk management are key instruments to utilize.
Even if you favor the bullish side, jumping out now or reducing your position is wise inorder to reduce risk. Remember to let the market prove the trend wrong, not you prove the market wrong. Best of luck
Sell signal from bolinger bands
Divergange on the 4 hr
additionally we have the previous support for the triangle, which has now turned resistance. Honestly if you are not taking profit or reducing position in light of the signs then you are gambling, and not following technical analysis