Bitcoin is going to plan! Learn Bitcoin's most important levels
This simple monthly chart contains the most important levels in all of crypto. The beige 15-month average is major support/resistance during bull and bear markets, and the teal 47-month average is critical support for the entire history of bitcoin.
When a new bull-market begins, first, the 47-month MA is confirmed as the price bounces up above it. Next, the 15-month MA is broken as resistance and becomes support again. Thirdly, the price breaks through the 21 WMA and finally comes back down to test and confirm the 15 MA as support.
We have done the first three steps exactly by the book. Now, we only have left the confirmation of the 15 MA. After that, I would expect the bull market to continue. IF however, we break the 15-month average, expect another bear market.
When a new bull-market begins, first, the 47-month MA is confirmed as the price bounces up above it. Next, the 15-month MA is broken as resistance and becomes support again. Thirdly, the price breaks through the 21 WMA and finally comes back down to test and confirm the 15 MA as support.
We have done the first three steps exactly by the book. Now, we only have left the confirmation of the 15 MA. After that, I would expect the bull market to continue. IF however, we break the 15-month average, expect another bear market.
Comment:
i meant to say 16 VWMA not 21 WMA*
Comment:
This technical bear market will extent the time for this prediction to be correct. I'm looking 5 years into the future :)
Comment:
Going to plan. Near the top now.