Bitcoin daily time frame from the start of May until the end of December. This post is to mentally prepare us for when a pullback of Bitcoin happens. Hold your position because it will rally back higher than before. I measured the rallies and pullbacks from the peaks and troughs. The yellow line underneath is the 20 week moving average which needs to be held to maintain our bull market. We currently about 41% above the 20 week moving average. A pullback of 30% would bring us to the 20 week. I am extremely bullish on Bitcoin but I am prepared for 20-30% pullback to open before we rally higher.
What's interesting is that once the bull run got moving it only touched the MA 20 a couple of times. Notice after July 2017, there wasn't a single touch of the line ... the one on Sept 2017 was close, but if you zoom in, it actually doesn't touch. Good stuff though