Finding support on the 200 week moving average

17 de dez. de 2018

the BLX chart has the cryptomarket charted since 2011 and during that charts entire existence we have always held support above the 200 week moving average (in blue) We have now touched it again and are seeing a relief bounce....judging by the weekly stochrsi we will likely see a nice bounce here. However I think t his rally may be temporary I think we may ultimately maintain support on the 200 weekly moving average but we may revisit and throw a wick well below it for our capitulation candle (around february) although we may still close that capitulation candle above the 200ma as well. A good time to be long temporarily but remember we likely haven't seen our capitulation candle just yet.