Rule set 1:
- When white line slopes up, BTC moons;
- When white line slopes down, BTC dumps.
Rule set 2:
-When line is above dotted horizontal line it's bull zone;
- When line is below dotted line it's bear zone.
Where are we?
Line is above dotted line so we are in a bull zone but line is sloping down so we can't rule out price drops.
What can happen?
If and only if the white line, whilst above the dotted horizontal line, reverses and starts an upward trajectory are we going to see BTC's next mega bull run and it will slice past $20k like hot knife on butter. For now it's a waiting game; we need to see what the line does.
If the white line drops below the horizontal dotted line then it'll be boom for bears (and doom for bulls). Can't and won't happen overnight since this is a long trend we are observing.
In the meantime it's vital to keenly keep an eye on these fib zone. Price action has respected these zones to the letter.
This is the last shakeup before the bull run. start looking for long entries at 8500 region.