BTC Why I'm not yet convinced we'll hold 12K

21 thg 10, 2020

Please feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.

Also make sure to leave a like as it helps me out a lot!

------------------------------------------------------------------------------------------


BTC has broken the psychological barrier of $12.000. Last time we saw this was back in august of this year. Last time we were able to stay above 12K for more than two days was all the way back in 2018. This could prove to be memorable.

However, I'm not 100% convinced we will see BTC above 12K for a long time and I'll tell you why.

July:
- Break 50 MA
- Run up towards 12K in august
- Clean break through
- Immediate break below the next day

Now:
- Break 50 MA
- Run up towards 12K
- Clean break through
...

Big difference: in august the MACD histogram was bearish, indicating a downward trend. Today the MACD histogram is bullish.

If we are able to close above 12K for two following days, I'll be super bullish.