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broke_crypto
Aug 17, 2019 9:22 PM

Looking Back to Prior Bull Runs 

Bitcoin / U.S. dollarBitstamp

Description

Looking back to prior bull runs, we see that the 21 Weekly EMA has been tested a handful of times to confirm support. During this current bull run, it hasn't been tested yet. Testing the 21 Weekly EMA is pretty common to see in traditional markets as well. I wouldn't be surprised to see a pull back to high 8k's to lower 9k's to confirm support. Current price action leads me to believe that this may happen over the next 2-4 weeks. Once confirmed as support, it is very likely that we a strong push upwards to make new ATH's.








***These are just my observations and opinions, don't take this as financial advice.***
Comments
oaksacorn
log chart. was not really tested in 2013. 2017 it was. everyone is expecting a pull back to weekly 21 ema. rarely does the market cater to everyone. tough call. my guess is that those waiting won't get theirs.
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