There are 3 charts of the BTC/USD Index where you can see 200 days EMA - blue line (moving average exponential) and 365 days EMA - black line. In all three scenarios, we can see the crossover of both EMAs which means to be a very strong bearish signal.
In 2015 after the beginning of the second BTC bear market in DEC 2013, we got an 85% drop-down in the price and it lasted 403 days. After the bottom in JAN 2015, BTC tried to recover and it was showing a nice buying power but bears were fully controlling the market at that time and BTC declined again in AUG 2015 where was created a Double Bottom figure.
But most interesting for us is that after the crossover of 200 and 365 EMAs the price decreased by 53% in NOV-DEC 2014.
2018 was a third bear market which started in DEC 2017 with an 83-84% drop-down in the price and it lasted 362 days. In this cycle, we can see the same situation with the crossover as in the second bear market.
In the present time on the chart, we got exactly what was previously twice and it could lead to a new strong movement down to 13000 - 14000 price level.
May the profit be with you!
In 2015 after the beginning of the second BTC bear market in DEC 2013, we got an 85% drop-down in the price and it lasted 403 days. After the bottom in JAN 2015, BTC tried to recover and it was showing a nice buying power but bears were fully controlling the market at that time and BTC declined again in AUG 2015 where was created a Double Bottom figure.
But most interesting for us is that after the crossover of 200 and 365 EMAs the price decreased by 53% in NOV-DEC 2014.
2018 was a third bear market which started in DEC 2017 with an 83-84% drop-down in the price and it lasted 362 days. In this cycle, we can see the same situation with the crossover as in the second bear market.
In the present time on the chart, we got exactly what was previously twice and it could lead to a new strong movement down to 13000 - 14000 price level.
May the profit be with you!