Lets check BTC macro trend ,using this strategy:
1.the longest BTC historic chart ,called BLX
2.the 369 EMA on the daily .(some use 377 in traditional markets but for crypto 369 works better.On all time frames.)
When price went bellow this critical EMA ,price bounced at -40% under this moving averege ,and ALWAYS completley reversed between -50% and -60% (extreme cases like mt gox hack ,bch fork in 2019 ,cvidiot crash in 2020 etc etc)
If we make a measurement from where prices crossed this EMA , minus 40% is @ ~26000usd/btc (I expect a big dead cat bounce there)
minus 50% is @ ~22000 usd/btc (could reverse for good)
minus 60% is 18500usd/btc . (defenetley should reverese)
There .These are the downside targets for the comming months.For me ,a wick under 20k is the absolute bottom ,I don`t see it going lower .
1.the longest BTC historic chart ,called BLX
2.the 369 EMA on the daily .(some use 377 in traditional markets but for crypto 369 works better.On all time frames.)
When price went bellow this critical EMA ,price bounced at -40% under this moving averege ,and ALWAYS completley reversed between -50% and -60% (extreme cases like mt gox hack ,bch fork in 2019 ,cvidiot crash in 2020 etc etc)
If we make a measurement from where prices crossed this EMA , minus 40% is @ ~26000usd/btc (I expect a big dead cat bounce there)
minus 50% is @ ~22000 usd/btc (could reverse for good)
minus 60% is 18500usd/btc . (defenetley should reverese)
There .These are the downside targets for the comming months.For me ,a wick under 20k is the absolute bottom ,I don`t see it going lower .