Update on Bitcoin. BTC-USD August 18, 2018

August 20, 2018


As a rule, the 50 day moving average shows the visible change in direction, which crosses the 200 day one. The cross from the bottom upwards forms the “golden cross” pattern and indicates the further market growth, from the top downward “death cross”, that tells about the possibility to move down. Now on 12 hours timeframe, we can see how MA50 is crossing MA200 from the top downward that makes the bearish signal and we should expect the market fall. Be careful! The formation of this pattern (12 h) along with the breakout of the bottom edge of the triangle (4h) will give the confirmation of the possibility to open the short positions and further asset price fall.

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