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I have used the MA50/ 100/ 200 on the 4H chart. The price is currently rising after a around $11100, following a MA50/100 cross. When this MA50/100 cross occurred in the past on May 25 (A) and June 13 (B), two patterns emerge:
(A) The price broke broke the Resistance (1.000 Fibonacci) and made a High on the 1.3 Fib extension.
(B) The price got rejected on the 0.786 Fibonacci and made a (marginal) low below the 0 Fib.
Currently BTC is about to test the 0.786 Fibonacci. It is obvious that this holds the key, as a rejection there could push the price below the 0.382 Fib and back to the 0 at $11100 as shown on scenario (B). At the same time if the 4H candle closes above the 0.786 Fib, we can see a strong pump above 1 and towards the 1.3 Fib at $12800 as happened on scenario (A).
Which of the two do you think will prevail? Feel free to share your work and let me know in the comments section!
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