Noticeably the 89 EMA has crossed under the 233 EMA. Last time this happened in 2018, we saw decline and some significant bounces in those 5 months along the way to capitulation toward $3K. What worries me more about today is that all of those EMA's are converging quickly in a momentum swing downward with what appears a much higher pitch than before. In essence, if the lower channel TL at 6100 does not hold, BRACE for impact toward the 2015 TL at $4500. There is also notably what appears to be an adam and eve top pattern between the 20K high and 13K retracement. This alone has a potential to trigger serious downward pressure. Let's see where all this leads to in 6 months, shall we!
NOTE: Not trading or investment advice. Entertainment ONLY!
NOTE: Not trading or investment advice. Entertainment ONLY!
Note
Adam and Eve Top? Note
Note
Note
Current EMA forecast Note
converged under price action. Trade active
Will the EMA's be ignored? Watching.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.