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BTC EMA Ribbon breakout or rejection?
🕑 Added 2021-04-27 21:52:51 +0000 UTC
We are in one of the most decisive moments for BTC of the last year.
1) Every time we have crossed the EMA ribbon and managed to stay above we have rallied upwards. This has happened 3 times in the last year.
But if this time we don't manage to close today's candle above it this will flag the potential beginning of a short or even medium term bear BTC market.
2) We still haven't visited the 21 weekly EMA. It's a tradition to do that in every bull run a few times before topping. This could be the time we finally do so at 43K.
Remember I'm not saying 100% we are going to drop to these lower levels.
I'm saying that if we don't manage to stay above the EMA ribbon, the likelihood of getting rejected and dropping 10K increases significantly.
Many traders are observing this event to go full on on a manual leverage trade either to long or short it depending on where is BTC closing that daily candle. And that should tell you everything you need to know. I'm going to setup an alert to notify us on discord where are we closing this candle ;)
I know all of you guys are hoping for the FUD to go away and start running our bots.
If you can't handle the wait then run some bots but use WAY less funds and drop deviation big. Leverage? I personally wouldn't. Those who have been parroting for a while know the downsides of leverage bots during a big market dump.
Run a bearish bot. For example the bot I shared yesterday. Just remember that today market has been bullish so the bearish bot won't open any deals until the bearish conditions kick in: corrections.
https://3commas.io/bots/3232757/shared_show?secret=987ba4b771
Comments
This is a bearish bot linked? Which one is it?
I’m running Johano at the moment.
Do you recommend to run Johanno at the same time?
