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FieryTrading
Sep 25, 2023 12:22 PM

🔥 Watch These Make Or Break Bitcoin Moving Averages 🚨 Short

BitcoinCRYPTO

Description

Historically speaking, the 200-week moving average was always the main support for BTC and has marked the bottom on 4 different occasions.

As of this cycle, things have changed. The 300-week was the main support during the COVID dump and indicated an important area during the FTX collapse.

In previous analyses I've stated that I think BTC will likely go down over the next few months. My main target is 20.000, which coincides with the 300-week SMA support area.

If 20.000 fails to hold, my next big support area is the FTX low, which should be around the 400-week SMA.

Put these moving averages on your chart to get a good overview of historically important areas of support and resistance.


Comments
DeGRAM
Thank you for the trading idea.
MyCryptoParadise_Nathan
Thank you for sharing your insights into Bitcoin's historical support levels and potential price targets.
CryptoCheck-
Similar outlook thanks
SwallowPremium
Let's see how price behaves at the current levels. Thanks for sharing.
WalterMoon
Very good idea mate, thank you
FirstNameHelen
Good chart, thanks for your idea
JoeChampion
Great work fella, keep it up!
LegionQ8
looks good to me good luck with the trade
Solldy
A good entry point for profitable trading. But the alternative scenario is unclear. What is the clear expectation plan?
Hellena_Trade
Great analysis! 👏 Your research and chart analysis are impressive. Thanks for your diligence and informativeness!
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