02/23/2018

For this, we will be using a TA from another source -- a good friend of mine -- Buckkets.

 

9KWX7OIA.png

 

https://www.tradingview.com/x/9KWX7OIA/

Today's example is meant to focus on the macro side of things. -- On this chart is the NASDAQ, and we have a lot of pink and green lines -- those lines represent a lot of EMAs that don't matter individually.

What matters is on a macro scale, the intersection of the two sets of the lines. This indicates a longer term downward trend. Whatever the stockmarket does, we can anticipate -- to some correlative regard -- BTC will do. And, in regard to major coins (LTC, ETH, BCH), they follow the trend of BTC.

My analysis for today is simple -- we are in an upward wedge. Over the next week, we will either see ourselves breaking 15k or dumping below 8k. Which direction has yet to be seen, but I would gather that the accumulation is negative, and that money is -- temporarily -- leaving crypto. That is my overall analysis for today, more will follow after this channel plays out.

Seth MischoComment