There's a lot of sentiment out there on BTCUSD -9.21% and for good reason. A lot of red alerts are flashing and there happens to be a lot of red in our portfolios, especially if you have been hodling.
Well I think smart money is looking to enter as the price declines over the last month have been fairly overextended. The risk to the downside is far less than the potential upside. It is true the weekly chart is strongest chart when comparing and evaluating trends, and for that reason I present a weekly BTCUSD chart that doesn't appear to be too if you discount the Mac D cross and instead take a look at the historical results as Slo approaches the blue line in the chart above, usually we get a bounce or some sideways action.