Strong Sell Off. Now What?

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Gatortpt221
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Strong Sell Off. Now What?

Post by Gatortpt221 »

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https://www.tradingview.com/x/KmqdXc2s/
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https://www.tradingview.com/x/M9UI0ImQ/

As long as there are no streaming issues, I'll be going over this chart with Tyler C tomrrow on the livestream. I've been in this since 35.5 based on signals taken from oscillators in 3D along with moving average support.

Even tho the weekly close on Sunday closed very bullish the 12hr chart(daily too) was saying to be careful. When you see a star print on the fisher oscillator it is something to pay attention to signaling extreme deviation on divergence. Will go over in more detail later.

We could see a more prolonged correction but ifish on 3D is showing there is gas in the tank for a push higher. I'm remaining skeptically bullish but the closes on daily, 2D and 3D will likely offer more info to consider so this next daily close is going to be an important one to follow.

Key support comes from the 9EMA at 46.9 and climbing. If lost then, 58K was the local top and maybe longer term top but the overall uptrend remains bullish as long as price is holding above the middle Bollinger Band and yellow 21EMA in the 39.2 range.

Is it possible that 40K is the floor? Yes it's possible but 30Ks is still not out of the realm of possibilities if this turns into a long term top and weeks to months long consolidation similar to spring/summer of 2013. Would still be looking for a potential $2T marketcap BTC by end of year which would put price around $106-110K.
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