Re: 10/21 EMA has crossed! Weekly MACD set to cross up! Full Moon in 7 days!
I really don't think that Bitcoin will test the trend at $530. With the long term indicators on the weekly chart all conspiring, to show a buy signal, who is gonna sell their BTC that low? Somehow, I doubt that there are many short sellers and on Bitfinex, the main leveraged trading site, there has already been huge profit taking on two occasions and 23% Fib level was as far is it got, twice.
Why not?
May I present to you: the Oct 2 crash.
1w MACD just turned green? check.
Last gasp before a huge uptrend? check.
Flash crash that broke 23% fib level from ATH to bottom anyway? check as well.
I know... Silk Road crash. Can't possibly happen again. Once in a lifetime...
Bullshit. News matter, but price has a way to create its own news that matter.
Like I said, I don't expect it, but I wouldn't be shocked either if it happens.