Bitcoin - On the Edge
Hello everyone,
today I decided to do a quick update before I come back with Q3 update in July.
I haven't planned to do more updates this month, but I noticed something very interesting in my opinion and I think that more people should pay attention to it.
As I said before - my Base Case for Q2 was that this quartal may be the BAD time to Invest in BTC for a longer period of time due to previous experience when we had similar macroeconomic conditions. Today, we are about the same Price range, in fact, we are around 7% lower than we were at the time of that statement. So I am still going to stick with that idea until my requirements are no longer met.
Now, to the reason why I am doing this Saturday morning update...
Reason is that 20SMA & 21EMA CROSSED. It may look like nothing extraordinary we should pay attention to, but I think otherwise. Looking back on the whole History of Bitcoin, we can see that this Case didn't occur so many times, but when it did, most of the time it resulted into the decline of price in upcoming weeks/months.
For better visualization I decided to use simple Arrows, to point out the magnitude of the move before 20SMA&21EMA crossed.
- If we count the relevant Cases (ones that occurred after the STRONG upwards move) - it looks like 7 out of 7 times we experienced a significant correction in price.
- If we count all cases then it is 7 out of 11 times. In these 4 cases, we moved sideways with slightly bearish price action, BUT once we tested the price at 20SMA&21EMA and were able to hold above that price, it continued to rally to higher prices.
At this exact moment, it's hard to say with Higher% certainty which of these cases we are experiencing right now because our criteria are mixed up...
We got BOTH - strong move upside & at the same time we have been in SIDEWAYS move for several weeks already...
So I am looking for what is going to happen next week/s when we reach our 20SMA&21EMA price, because it may give us a CLEAR signal in which group we are right now.
Until then I would suggest everyone practice patience, unless you like to gamble.
Hopefully, this update was helpful for some of you in further market navigation.
If YES, please consider liking or sharing this post, it would mean a lot to me.
Also, if you are interested in more updates or you would like to receive more predictions with lower time frame updates daily, let me know in the comments or DM.
Best Regards,
Joe
today I decided to do a quick update before I come back with Q3 update in July.
I haven't planned to do more updates this month, but I noticed something very interesting in my opinion and I think that more people should pay attention to it.
As I said before - my Base Case for Q2 was that this quartal may be the BAD time to Invest in BTC for a longer period of time due to previous experience when we had similar macroeconomic conditions. Today, we are about the same Price range, in fact, we are around 7% lower than we were at the time of that statement. So I am still going to stick with that idea until my requirements are no longer met.
Now, to the reason why I am doing this Saturday morning update...
Reason is that 20SMA & 21EMA CROSSED. It may look like nothing extraordinary we should pay attention to, but I think otherwise. Looking back on the whole History of Bitcoin, we can see that this Case didn't occur so many times, but when it did, most of the time it resulted into the decline of price in upcoming weeks/months.
For better visualization I decided to use simple Arrows, to point out the magnitude of the move before 20SMA&21EMA crossed.
- If we count the relevant Cases (ones that occurred after the STRONG upwards move) - it looks like 7 out of 7 times we experienced a significant correction in price.
- If we count all cases then it is 7 out of 11 times. In these 4 cases, we moved sideways with slightly bearish price action, BUT once we tested the price at 20SMA&21EMA and were able to hold above that price, it continued to rally to higher prices.
At this exact moment, it's hard to say with Higher% certainty which of these cases we are experiencing right now because our criteria are mixed up...
We got BOTH - strong move upside & at the same time we have been in SIDEWAYS move for several weeks already...
So I am looking for what is going to happen next week/s when we reach our 20SMA&21EMA price, because it may give us a CLEAR signal in which group we are right now.
Until then I would suggest everyone practice patience, unless you like to gamble.
Hopefully, this update was helpful for some of you in further market navigation.
If YES, please consider liking or sharing this post, it would mean a lot to me.
Also, if you are interested in more updates or you would like to receive more predictions with lower time frame updates daily, let me know in the comments or DM.
Best Regards,
Joe
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