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RE: Bitcoin (BTC) Morning Update: Confidence & Awareness are NOT same as Fear & Greed
dbrdbr You're on the 240min (4hr chart). The 150EMA is for the daily chart. Either switch the timeframe to daily, or switch the EMA to 900 on for the equivalent on the 4hr chart. :)
yes... but in my opinion 150 is too long . because 150 day means almoast half a year. and it seems to me that cryptos change suport lines and trends fast. and at diffrent angles.
Indicators are not written in stone. Just because 20 and 50MA are common doesn't mean they apply.
We must use indicators to look for patterns that are showing reliability. This one has shown exceptional reliability. In fact, some of the best reliability I've seen of a MA in a long time.
If there's no pattern to a 20EMA, no point in using it. :) GL!
just try the 300 day EMA and see. It is absurd to use a EMA that long on cryptos that have just been born.
i'm quite new at this so that's why i have this fresh in my head.
i have read that EMAs act as trends and support.
so if i choose a more appropriate day count for the rate cryptos change their angles on the trend and support lines you can see that this EMA acts as a support line and it predicts a triangle.
Been trading 10yrs+. The 60 doesn't show very reliable support or target prediction. GLTU! :)
adapt to cryptos.... BTC 60 days ago was under 7000. more than half of btc's money is 60 days old or newer.