$ETH $BTC
Haizzz, this means that the weekly candle has closed. There is no way to pull back to have the weekly candle close above 3k6-3k9 at the last minute. This causes a major timeframe like the weekly to officially show a Death Cross in the short to medium-term EMA.
When this crossover appears, typically the price will need to stay below for a few more weeks, so don’t expect the price to bounce back into an uptrend immediately; this phase requires extreme patience.
And the area I’ve always mentioned last week is a confidence zone where you should only DCA once; do not let the volume swell to x2, as there may still be better discount price points below 3k for relatively long-term holding.
✨ Currently, the EMA99 weekly is around ~85k.
Square is currently flooded with price news about 92-85 being perfectly reasonable, as since 2 years ago, the BTC price has surpassed the EMA99 weekly chart => a continuous upward trend. This is the third time the price threatens to test the EMA99 weekly chart, and the previous 2 times did not return. However,
The fact that BTC returns to test the EMA99 weekly is:
- COMPLETELY NORMAL
- NOT A CRASH
- BUT A CYCLE RESET
That is what the market needs, not a “bad” thing.
The price cannot keep rising without a reset. The news about the price going to 85k is reasonable; if anything, we need more extreme news like going to 0, which could lead to a higher rise.
=> The adjustment is not enough for a weekly cycle. However, it is observed that the large dumps in the weekly timeframe are showing signs of gradually decreasing amplitude; this time it may not reach 50% as the confidence in BTC has grown much more than at any point in 2021.
Haizzz, this means that the weekly candle has closed. There is no way to pull back to have the weekly candle close above 3k6-3k9 at the last minute. This causes a major timeframe like the weekly to officially show a Death Cross in the short to medium-term EMA.
When this crossover appears, typically the price will need to stay below for a few more weeks, so don’t expect the price to bounce back into an uptrend immediately; this phase requires extreme patience.
And the area I’ve always mentioned last week is a confidence zone where you should only DCA once; do not let the volume swell to x2, as there may still be better discount price points below 3k for relatively long-term holding.
✨ Currently, the EMA99 weekly is around ~85k.
Square is currently flooded with price news about 92-85 being perfectly reasonable, as since 2 years ago, the BTC price has surpassed the EMA99 weekly chart => a continuous upward trend. This is the third time the price threatens to test the EMA99 weekly chart, and the previous 2 times did not return. However,
The fact that BTC returns to test the EMA99 weekly is:
- COMPLETELY NORMAL
- NOT A CRASH
- BUT A CYCLE RESET
That is what the market needs, not a “bad” thing.
The price cannot keep rising without a reset. The news about the price going to 85k is reasonable; if anything, we need more extreme news like going to 0, which could lead to a higher rise.
=> The adjustment is not enough for a weekly cycle. However, it is observed that the large dumps in the weekly timeframe are showing signs of gradually decreasing amplitude; this time it may not reach 50% as the confidence in BTC has grown much more than at any point in 2021.