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WEEKLY UPDATE:-
As seen in the following chart, each time after experiencing a 70% correction and at the end of the bear market, Bitcoin’s price has briefly touched the 200-week moving average.
Exceptionally, the price has dropped below this significant moving average during the recent significant shakeout, followed by a pullback to the broken level at around $21.5K. If the pullback pattern turns out to be valid, it can be considered a confirmation for another leg down to the $15K mark.
Nevertheless, the RSI indicator has formed a descending resistance trendline, and the next bull run won’t be anticipated unless the mentioned threshold gets broken.
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Do hit the like button if you like it and share your charts in the comments section.
Thank you.
WEEKLY UPDATE:-
As seen in the following chart, each time after experiencing a 70% correction and at the end of the bear market, Bitcoin’s price has briefly touched the 200-week moving average.
Exceptionally, the price has dropped below this significant moving average during the recent significant shakeout, followed by a pullback to the broken level at around $21.5K. If the pullback pattern turns out to be valid, it can be considered a confirmation for another leg down to the $15K mark.
Nevertheless, the RSI indicator has formed a descending resistance trendline, and the next bull run won’t be anticipated unless the mentioned threshold gets broken.
Remember:-This is not a piece of financial advice. All investment made by me is at my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Do hit the like button if you like it and share your charts in the comments section.
Thank you.
