The uncanny relation between (W) Death cross, MM200 and a bottom
Bitcoin loves making rhymes.
In the past a MA20/W - MA200/W crossover ("death cross") marked a final flashcrash and sealed a bottom.
Will it seal a low or a bottom again right here ?
Let's see.
In the past a MA20/W - MA200/W crossover ("death cross") marked a final flashcrash and sealed a bottom.
Will it seal a low or a bottom again right here ?
Let's see.
Comment:
For better readability:
Comment:
Minor typo: actual correction is -52% already, measured since death cross.
Projected range (-47%/-59%) would be 19,2k to 15k.
17,5k sits almost exactly in-between.
Let's see how far the rhyme goes.
Then we'll further consider the low vs. bottom matter.
Projected range (-47%/-59%) would be 19,2k to 15k.
17,5k sits almost exactly in-between.
Let's see how far the rhyme goes.
Then we'll further consider the low vs. bottom matter.
Comment:
Months ago, back in June in current post, i told you about the event usually opening a final capitulation/bottoming phase, meaning the MA20/W - MA100/W "death cross". It usually happens only once in a few years.
That's just HALF of the story, though. There's another rare and meaningful event, which usually follows it, "sealing" a low and closing a bottoming phase.
That's the MA50/W - MA100/W "death cross", which historically is not a "deadly" event at all.
Current week is important because such event is poised to happen right now.
Below i marked with a red background the previous (confirmed) and current (presumed) bottoming phases, as derived by such crossover. Let's evaluate the outcome within next few months (this is long term trend analysis), as Bitcoin loves making rhymes.
Let's not forget that dashed black log support though.
It has been tested each and every time so far, after a bottoming phase (see the 2 black arrows). Now it's doing some "implicit" and contextual test, we cannot rule out a further test later on this year.
Will comment more on this matter.
That's just HALF of the story, though. There's another rare and meaningful event, which usually follows it, "sealing" a low and closing a bottoming phase.
That's the MA50/W - MA100/W "death cross", which historically is not a "deadly" event at all.
Current week is important because such event is poised to happen right now.
Below i marked with a red background the previous (confirmed) and current (presumed) bottoming phases, as derived by such crossover. Let's evaluate the outcome within next few months (this is long term trend analysis), as Bitcoin loves making rhymes.
Let's not forget that dashed black log support though.
It has been tested each and every time so far, after a bottoming phase (see the 2 black arrows). Now it's doing some "implicit" and contextual test, we cannot rule out a further test later on this year.
Will comment more on this matter.