Bitcoin (BTC) Update: Is the sky falling?
Here is a chart where prices hit a lower low (green arrow on price chart) while the MACD went higher low (green arrow on MACD panel). This is bullish! Price should start picking up. Should MACD fall lower than prior low, this would be invalidated.
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BTC Wallet - 19gHMJc9wi9KkP47wokz8y4cFNgz1kAAUE
ETH Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
LTC Wallet - LU1mEw1LHvffoWf9VDEVdP7Day4jv6VLqu
EOS Wallet - 0xf83641dbf1a53498eae6d0d568c969790da48a36
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Any advice on XMR big dip?
Here is the update on XMR, please use only to augment your due diligence.
https://steemit.com/bitcoin/@haejin/monero-xmr-update-deep-dive-to-oblivion
Do you only use the MACD indicator or do you use any other indicators?
Just EW, Chart Patterns and MACD.
How sure are you about the coming downtrend? Also what makes you think that BTC will go as low as $2000?
Thanks.
How sure am I? I know not exactly when Wave III will top, but know that a top is approaching. I'm certain that now is NOT the time to be taking BUYING actions but rather SELL actions. This thus means selling into strength as I had bought into the weakness of prior bottom in July.
Once Wave III tops, then wave IV is next and it often retraces to prior wave 4 and that was around July bottom to around $2,000.
I generally like to see confirmation of divergence on a few different indicators. The rally on the 15 minute chart appears quite corrective and not very strong. I still think we have at least a little way to go on the downside.
Confirmations are good to have. But often, once the confirmation is confirmed, much of the momentum has been spent. This is why laddering at estimted bottoms of an abc correction has been the best money maker for me.
Please review the laddering blogs posted .