We bounced pretty good from the 200 week ma double bottom.
The 200 week ma that was also involved in the 2014/2015 bottom.
However i think that the people that are in this game from 2013/2014 know, there's more to the story.
There was a good reason why BTC bounced so heavily there, it was on the all time moving average aka all time mean.
After exactly 1641 days of trading, and it touched the 1641 day ma another time.
Now we can think that the 200 week ma will forever and ever be the bottom, but how realistic is that?
If we take a good look to other charts from various bubbles, these kinds of steep uprisings are very common after a double bottom.
With the sidenote that the current hight is quit extreme if you compare this, but yes this is crypto, so why not.
We will see if the 200 day ma will hold BTC in the upcoming correction, otherwise i think that we will get a ticket down to a lower level.
The 200 week ma that was also involved in the 2014/2015 bottom.
However i think that the people that are in this game from 2013/2014 know, there's more to the story.
There was a good reason why BTC bounced so heavily there, it was on the all time moving average aka all time mean.
After exactly 1641 days of trading, and it touched the 1641 day ma another time.
Now we can think that the 200 week ma will forever and ever be the bottom, but how realistic is that?
If we take a good look to other charts from various bubbles, these kinds of steep uprisings are very common after a double bottom.
With the sidenote that the current hight is quit extreme if you compare this, but yes this is crypto, so why not.
We will see if the 200 day ma will hold BTC in the upcoming correction, otherwise i think that we will get a ticket down to a lower level.
