Hi Guys, a couple of weeks ago we published an idea about the set up on the short interest and the chart working into a wedge that we predicted would eventually break down. I think we are seeing this today with a big move breaking down through the wedge triangle and heading to the 200 sma on the one day chart. A breach of the 200 should be a great catalyst for a reasonably big move upwards on BTC. If the 20 day sma would now move up through the 50 day sma on the BTCUSD chart on the left it could potentially be a huge indicator that this bear market has ended and the 20 day may remain up above the 50 now for the duration of the next bull run.
BTC is working its wat through the numerous wedge formations (depending on timeframes etc.) It is poised now to break one after the other to the upside and has consistently made lower highs throughout the past few weeks. Now we just need to see some kind of an impulse to kick off. Likely a big move will breakdown but will be another great indication of higher prices to come.
BTC is working its wat through the numerous wedge formations (depending on timeframes etc.) It is poised now to break one after the other to the upside and has consistently made lower highs throughout the past few weeks. Now we just need to see some kind of an impulse to kick off. Likely a big move will breakdown but will be another great indication of higher prices to come.
Anyway it's quite intteresting and he makes a very compelling case.
(I am not affiliated in any way, just wanted to share with you guys)
www.youtube.com/watch?v=ebMBU7UN...
bitinfocharts.com/to...tcoin-addresses.html