Interesting observations

15 abr 2020

Knowing price action runs on an algo i've been experimenting with interesting time frames amidst this interesting development on btc. Tossing a 23hr candle to the charts I noticed how close the 50&100 MA were to have a golden cros. Noting this i zoomed out and just observed the trend line holding us back for sometime now and noticed with the exception of the massive dip we had (shortly lived) we're in a descending broading wedge.... Ik these are more likely bullish than bearish but if we bust out of this channel were in trouble. Also pinging a fib retracement, but for some off reason cant draw my lines. Anywho closed my short for 5% profits (hedge against big buy order i placed), and proceeded to enter a long position. Evryone is bearish on bitcoin. Oh also the 12hr stoch rsi has been bottomed out for 5 days... it needs to breathe...