Hey all
It is CryptoGavin again here with another update. Remember to like and follow the posts if you like the content! I am always open to talking in the comments as well!
The Outlook:
There is not much of a outlook anymore now that the consolidation has passed under the midsection line of the . Even in this outlook there is a Death Cross of the 50MA and the 100MA, shown below, and also a Death Cross alert of the 50MA and the 200MA on the 4hr time frame: shown below.
time frame showing 50MA and 100MA Death Cross
Outlook:
The Outlook:
Including the time frame death cross shown above we have a 4hr time frame showing another death cross. Plus another Death Cross alert on the Weekly Chart of the 50MA and the 200MA. We could be in the preliminary stages of the second portion of this bear market in my opinion. With the Death Cross indications in the charts and everything else not looking at all I am forced to change my strat to a Short from Neutral.
4hr time frame showing Violently down curved 50MA looking to break the 200MA in a death cross
Custom BitMEx Chart 4hr time frame. Shows the consolidation we are currently in brings us to the end of a which breaks to the downside 70% of the time per classic TA rules.
You can see on the V7X indicator at the bottom (the indicator on top) shows that the green line has already smacked some resistance that is not letting it move upward of the middle line in the . To see any sentiment we need to be above that line and then follow our pattern with some major and to not over extend the indicators off one pump.
Problem is we have this downtrending resistance line from our that is formed.
It will take a massive amount of buying and a dump truck of luck to break this at this point without visiting under $2,000. As I finish typing this dives under $3,600 which would be full-filling my predicted
Published at Thu, 27 Dec 2018 19:16:15 +0000
