A risky post about price structure $BTC
#KOLcrypto
Although a bounce at the 200-week moving average is possible, there are a number of other technical challenges the bullish case needs to consider…
Let me be genuinely kind here—not to troll, but to explain:
👇
Although it’s true that we’ve held the 200-week moving average (for now), we have a bullish weekly Di- crossover above Di+ (with the added confluence of it crossing ADX). This is negative in itself.
But adding to the bulls’ problems, the weekly MACD is crossing down bearishly and could reverse below the centerline. This would be an extremely negative technical event.
In other words: Once the 200-week moving average is lost—and it will be lost—it will become a formidable resistance zone rather than support.
For reference: When was the last time we saw a combination of Di-/Di+ AND a bearish MACD crossover?
👇
When BTC was at $110.
An early bearish case.
#KOLcrypto
Although a bounce at the 200-week moving average is possible, there are a number of other technical challenges the bullish case needs to consider…
Let me be genuinely kind here—not to troll, but to explain:
👇
Although it’s true that we’ve held the 200-week moving average (for now), we have a bullish weekly Di- crossover above Di+ (with the added confluence of it crossing ADX). This is negative in itself.
But adding to the bulls’ problems, the weekly MACD is crossing down bearishly and could reverse below the centerline. This would be an extremely negative technical event.
In other words: Once the 200-week moving average is lost—and it will be lost—it will become a formidable resistance zone rather than support.
For reference: When was the last time we saw a combination of Di-/Di+ AND a bearish MACD crossover?
👇
When BTC was at $110.
An early bearish case.
