Bitcoin is brewing a rebound

21 Nov 2019

Bitcoin has seen a panicked decline, which many attribute to negative news. However, I have repeatedly stressed that the news does not change the trend, for the downward trend, negative news only accelerates the decline. I mean, even if there's no negative news, it's going to fall, but it's going to fall a little bit slower.


At present, there is a 2-hour bottom divergence, from the level, very large. So now the position, excessive bearish is not recommended.

I say this, not only because there is a two-hour bottom divergence, but also because there is a number of data to support it.

I suggested earlier that the weekly K line has fallen for four consecutive weeks, which is rare in history, while the day k line has been running for 15 trading days below ma6, which is also extreme.

So I'm sure there's going to be a rebound here, and because of this bottom divergence, it's possible to bring about a large-level rebound that breaks through the downward trend line.

Strategy: If 2 hours form a bottom divergence (macd gold cross), you can buy the spot or open a long order. The target is set at $8,150 - $8,360 - $8,520 - $8,670. Stop loss should be below the previous low, or -10% of the buy ingres cost.

This position rebound is a big probability, but it doesn't rule out extremes. Therefore, it is not recommended to invest too much money, while paying attention to setting stop loss.

21 Nov 2019

Nota

If macd cannot form a 2-hour bottom divergence of gold crossovers, do not enter easily. Trades are based on signals sent on the right and do not enter on the left