3 minutes ago My first actual published idea. Been charting for a while now. refining the skills.
Lets jump in. On the social abyss that is crypto twitter, I've been noticing a lot of influencers calling for an ALT season without much of any indicators to back it up. The pumps in the alts were due to Bitcoin -1.50% being tightly range bound.
On to my opinion of BTC -1.50% . I've been eyeballing a weekly descending support that nobody else seems to notice. It is consistent in this months long cycle that I will outline further below (as long as i can figure that part out).
The 89 EMA is crucial (Dark BLue Moving Average). Last time we closed below, I believe was in 2014. after which sparked a capitulation event and a test of the 144 moving average (Light Blue Moving Average). I anticipate this happening. A weekly close below the 89 will bring in sell off volume and we could see 4k prices.