After the massive parabolic rise we had in 2013, 2017 and 2019, it crashed to the 21 daily EMA, then bounced, and then went below it. The 21 daily EMA became resistance. It is very fascinating pattern. That is why I am almost 80% convinced that Bitcoin is gonna drop lower.
Protect your money and good luck.
***Disclaimer: This is a technical analysis not a financial advice.
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Each time when it crashed to the 21 daily EMA, it bounced 61.8% Fib. But the Bitcoin CME Future hasn't bounced yet, so I think we are going to have some sort of retracement to 11.6K. Maybe it will go up there, maybe not. We have to wait and see how it works out.
It bounced in 2014
It bounced in 2018
It bounced in 2019
Are we going to have a bounce in the Bitcoin CME Future chart???
You need to remember that the purpose of the market is to fool 99%. The price is pretty arbitrary. It is the timing that is most important. The Whales will PUMP HARD back above 21 EMA before long.
mightytrader
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Oh, so you watch that Alessio bozo on YouTube, huh? LOLOLOL!! The problem is, is that these charts change based on price because they delete chunks of time. So, the chart can look totally different a week or two from now and it be back above that 21 EMA. And also: Maybe eventually we get a scenario like this but I don't think it's at this moment. We are going to PUMP HARD in October. Also, my Line Break chart looks like a bullish pull-back.
How much in % you are sure about it ?