🔥Hey guys! Just gonna keep this short since this is pretty vital. I literally told you guys just a few hours ago in the idea warning that we could definitely see that 200 EMA (in black) leave our mountain and start a cascade, mountain fall. It was thanks to that EMA entering our mountain after all which gave us this rally. But just as much as it's gave that strength to send us up it can just as easily bring us down.
💥I know we usually use candles on the chart but we're just using line for today since it makes it real easy to see what I'm trying to explain and see just how dramatic that mountain drop is. We didn't just semi exit the mountain, we've fully exited the mountain now. You guys already see that previous mountain fall and see what happened and this one's got an even lower high so it could easily fall lower.
💥0.35 is gonna be that next support level for me being as I can't consider 0.354 a real support since it was most likely only stopped there since bulls wanted to prevent further fall below the 200 EMA, so I'm gonna count the next one basically right below it at 0.35 as support to watch. Now if we fall below that we could possibly even move down to 0.338 which is that next point on the chart in the dotted red.
💥This could be the start of a possible dead cross if support doesn't kick in since we just entered that golden cross on the 23rd and seem to be exiting the mountain now following that. For those of you that don't know what I'm referring to I'll make it simple and I'll be posting an educational idea later so follow to keep tuned for that! But basically a golden cross is when that 200 day EMA enters your mountain and you get this huge rally that basically follows as a result thanks to the cross formation. Now it's the exact opposite with a death cross, when that 200 day EMA exits the mountain, it results in what you usually see with those big falls that precede falling up until those lower EMA timeframes end up entering the next mountain.
🔥I'm gonna leave the idea here but for now keep watch for all of that stuff I mentioned and as always I'm happy to see that these trade ideas are only getting more accurate day by day. Thank you guys and if you'd like to leave a like and follow it'd be much appreciated. Thank you.
~ Rock
💥I know we usually use candles on the chart but we're just using line for today since it makes it real easy to see what I'm trying to explain and see just how dramatic that mountain drop is. We didn't just semi exit the mountain, we've fully exited the mountain now. You guys already see that previous mountain fall and see what happened and this one's got an even lower high so it could easily fall lower.
💥0.35 is gonna be that next support level for me being as I can't consider 0.354 a real support since it was most likely only stopped there since bulls wanted to prevent further fall below the 200 EMA, so I'm gonna count the next one basically right below it at 0.35 as support to watch. Now if we fall below that we could possibly even move down to 0.338 which is that next point on the chart in the dotted red.
💥This could be the start of a possible dead cross if support doesn't kick in since we just entered that golden cross on the 23rd and seem to be exiting the mountain now following that. For those of you that don't know what I'm referring to I'll make it simple and I'll be posting an educational idea later so follow to keep tuned for that! But basically a golden cross is when that 200 day EMA enters your mountain and you get this huge rally that basically follows as a result thanks to the cross formation. Now it's the exact opposite with a death cross, when that 200 day EMA exits the mountain, it results in what you usually see with those big falls that precede falling up until those lower EMA timeframes end up entering the next mountain.
🔥I'm gonna leave the idea here but for now keep watch for all of that stuff I mentioned and as always I'm happy to see that these trade ideas are only getting more accurate day by day. Thank you guys and if you'd like to leave a like and follow it'd be much appreciated. Thank you.
~ Rock
