Bitcoin Protecting the 200 SMA
Big Money Watches the SMA Not The EMA
So I see a lot of individuals talking about the EMA. Then why is it when you blow out the EMA too a 200 count does it not line up with resistance levels? We’ll I know talking with a very long time traders, they watch SMA or the Simple Moving Average.
(Pink 100, Blue 155, Green 200 my Charts are in CAD)
In the chart above, you can see that huge buying power came back in with huge volume protecting that 200 level. Looking back on that chart you can see a test of the 100 and at that point again huge buying power moved us away from that breaking point. So currently you can see where the 100 was tested and yet again we moved from large selling power too a jump in buying power above its moving average but the selling power was still able to overcome the bulls. Bulls letting go would then look for next resistance/buy opportunity.
The 200
At the 200 we see larger buying volume since the last test of the 100, this tells me it is being protected with BIG money. The moment the 200 closed below the 6K USD level or the 8K range CAD, it ran up touching the 155 now fluctuating between the 200 & 155. According to my friend who wishes to remain unnamed, the 155 is used as a Bull marker! When the Bull Marker breaks game is on, same being said about the 200 but with opposite expectation game is over.
Psychological
Now with this space being in such a growth mode I highly doubt we will see a “game over” scenario as of yet. We are currently experiencing the normal fluctuations exacerbated by the increased attention by FOMO buying and FUD from the media/shills. We have no rules of conduct to go by so our best guess would be using the psychological perspective.
As you can see in the Wall Street cheat sheet, we have experienced the typical over bought bubble. Then sitting on a perfect buying opportunity explains where this money is coming from for the 200 SMA resistance. The resistance felt at the 100 and 155 during the downtrend could be thought as strategic cost averaging or if you step back further it could be market manipulation slowing the down trend to be able to support the 200 without being overly obvious.
What am I doing?
I am holding, I don’t bother with trading on the downtrend if I miss the sell within my gains margin. That’s right I’m doing nothing but watching and seeing my predictions on the subject of bottom and resistance come true. I had a discussion on @haijin post trying to discuss this point, trying to educate the individual since he has such a large folowing but I was met with downvotes from his community for disagreeing.
What Should You Do?
If I had not locked my funds up already I would be buying at our new low, that is seemingly protected by big money meaning it should be a fairly safe bet. If like I you know this industry is bound to grow again then you know it is a safe bet, furthermore if like me you know that long term and coin count is the best strategy you will be successful buying in at the lows for coin count increasements. I do not gage my gains by $ value but rather in crypto coin count, the future of these company’s has great possibilities for upside even at current values and it would be stupid to start panicing now thinking about my future.
not investment advice rather just my take on what’s going on
As a knower on the path of knowing to discover the known I reveal to you my findings, good and bad.
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