Polly₿ 2 minutes reading from Bitcoin

Bitcoin Price Support? 5/5/2016

1/5 bitcoin, Week MA200

Yellow bands signal the downward crossing of the MA, this did not happen in 2018. We see it only for a moment in 2015 and 2011, but since 2011 btc was just born we discard it because the average goes down by a period when it finds less than 200 periods.

2/5 Always relative to the image above, the indicator at the bottom is the delta between price and MA. Discarding 2011, we are in extreme areas never touched by BTC. But there is always a first time, and no one knows how long it may last and what the maximum limit may be.

3/5 the delta is diverging to the upside right now, which could be a good indicator of strength. In the past on all time highs and diverging to the downside, it has given good bearish signals. Consequently, this could be a good bullish sign.

4/5 Also, among other things, I am closely monitoring how NY performs on the CME market, excluding the weekend.

There appears to be a slowdown in sales in the past few weeks. If this continues it could be a good sign.

5/5 it's a bet to say directionality, but to completely reset the market I'd like to see BTC break new lows below 17k, that's when I'll start getting greedy and throwing out some dust. If that doesn't happen, so good. Don't time the fund, distribute and take care of your savings

This post is based on this twitter thread.


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