After having Bitcoin rising for the last few months, I have tried to trade less and just get out of the way of the momentum. Today, however, a warning signal happened that I have been looking out for for months.
The 10 sma crossed below the 21 ema on the daily:
I admit that we had one small fake-out in June but other than that, these crosses happen rarely. The last cross to the upside was in Feb/March which basically would have caught the 3x explosion of the price, so who knows what will happen now, if we see this downwards cross staying intact? I have sold a small proportion of my BTC, and will sell more if we make it out of the weekend without crossing up again.
What are your thoughts? As always: Good luck to all of you and take care.