Post
Topic
Board Speculation
Merits 2 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
BitcoinNewsMagazine
on 22/05/2018, 01:47:04 UTC
⭐ Merited by PoolMinor (2)
The more I learn about TA the more I think it's all bullshit and not much different than astrology.

I don't think you really appreciate the power of TA. The simplest daily 50/200 MA Golden Cross would have told you to start buying bitcoin at $415 and hold. When the 3 day RSI hit an unprecedented 92.99 price was over $16,000 and was a clear signal to start selling. If you missed the top there was a dead cat bounce to $17,000 before the 50/200 Death Cross final exit signal occurred at $9300. Until daily 50 MA crosses above the 200 again we are in a bear market. Every bear market is different; this one might only last 6 months but a year is quite possible until sellers are done.