Hey guys! Wishing well as always. Gonna be quick with this since it is a timely post.
Bitcoin is at one of those absolutely crucial points in which we'll need to pull back up and hold $23,300 or risk falling lower. As I always say, my indicators do well do show you things and with a high rate of accuracy, after all you can see the tug a war that is playing out along our indicator already and both sides fight following those 20/50 EMA's flipping.
It's looking bearish right now as we've already lost that 200 EMA and now are quite a distance away from it, we lost that $23,000 three times now and will need a strong move back or support to move back up, is it possible? Absolutely, but usually the third time something happens in trading it'll usually be the strongest movement which is exactly what we are seeing with that large red candle forming and the EMA's still being flipped.
If we exit that 200 EMA on the current hourly chart then we should definitely expect the fall to extend further and dramatically most likely should we have a mountain exit by that 200 EMA. A mountain fall is bad enough but a straight out mountain exit on the hourly would almost certainly mean a big drop especially when we're at level's we haven't touched in a relatively long amount of time investors will be more prone to hitting that sell button.
If we lose $23,000 that'll be a bit rough in the least to say and should that happen my next marked indicator is at $21,470 although $22,196 was our mountain's peak on the 26th of July so $22k is the next point that could possibly play a role soon should we fall but besides that my next solid indicator below does sit at $21,473.
Gonna leave the idea here for now but watch those EMA's and don't give up. We improve and I give you guys exactly what you need to know each and every single day. I've already been indicating to you guys regarding the second half of the mountain and it's been pretty dramatic already as it is so definitely keep watch and be prepared should we continue to lose our grip. If you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock '
Bitcoin is at one of those absolutely crucial points in which we'll need to pull back up and hold $23,300 or risk falling lower. As I always say, my indicators do well do show you things and with a high rate of accuracy, after all you can see the tug a war that is playing out along our indicator already and both sides fight following those 20/50 EMA's flipping.
It's looking bearish right now as we've already lost that 200 EMA and now are quite a distance away from it, we lost that $23,000 three times now and will need a strong move back or support to move back up, is it possible? Absolutely, but usually the third time something happens in trading it'll usually be the strongest movement which is exactly what we are seeing with that large red candle forming and the EMA's still being flipped.
If we exit that 200 EMA on the current hourly chart then we should definitely expect the fall to extend further and dramatically most likely should we have a mountain exit by that 200 EMA. A mountain fall is bad enough but a straight out mountain exit on the hourly would almost certainly mean a big drop especially when we're at level's we haven't touched in a relatively long amount of time investors will be more prone to hitting that sell button.
If we lose $23,000 that'll be a bit rough in the least to say and should that happen my next marked indicator is at $21,470 although $22,196 was our mountain's peak on the 26th of July so $22k is the next point that could possibly play a role soon should we fall but besides that my next solid indicator below does sit at $21,473.
Gonna leave the idea here for now but watch those EMA's and don't give up. We improve and I give you guys exactly what you need to know each and every single day. I've already been indicating to you guys regarding the second half of the mountain and it's been pretty dramatic already as it is so definitely keep watch and be prepared should we continue to lose our grip. If you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock '
