For BTC To Go Up, We go Down

12 May 2020

Hey hey. Happy Halving and to the world. As ever I am going to keep this short and sweet, as quickly looking at the 1 hour chart I see a potential that a short is still in play.

Ok, so to be brief we are starting to see the 200MA and 100MA kiss. If the 200MA starts curtailing above the 100MA, death cross, then we should indeed expect a downtrend and call the last 6 hours or so as capitulation as per the halving and fundamental reasons, with the sideways movement.

ALso, the 15 minute shows what appears to be a bear flag forming, which I shall post. There is much more one could write, and in the future I will, but this is a quick publication to benefit the shorters.

SO far, nearly all charts have been on the money

Good lyck

12 May 2020

Not

Bear flag (i see capitulation rather than consolidation)

12 May 2020

Not

More food for thought. This is the weekly view. Notice how the last swing high, was rejected by a trend line that is the bearish continuation from 2019, but also then led into a higher td count, but closed lower.

We can almost see the same happening now. Be careful throughout the week swing traders.