20EMA is a must hold for Bitcoin since it was crossed down only three times:
1) September 2014 leading to -60% 3 months later
2) November 2018 leading to -51% 1 month later
3) March 2019 leading to -46% 2 weeks later
But, and this is a big BUT, it was always 10-8 months after the previous ATH.
So if we are in a bear market already, I would not expect 20k before March-June 2022...
If we are still in a bullish trend then we definitely need to make a new ATH before end of year (2021)!
1) September 2014 leading to -60% 3 months later
2) November 2018 leading to -51% 1 month later
3) March 2019 leading to -46% 2 weeks later
But, and this is a big BUT, it was always 10-8 months after the previous ATH.
So if we are in a bear market already, I would not expect 20k before March-June 2022...
If we are still in a bullish trend then we definitely need to make a new ATH before end of year (2021)!
Trade active:
Feb 11, 2021
We just check back that monthly chart after a while and this is quite worrisome to be honest
I was expecting another bull wave all this time aiming for 150k but did not happen as we all know now.
Let's be realistic here, that rejection on top was a big "not this cycle" and that's why we went back down to 20EMA.
A deadcat bounce saved our ass so far but if you want my opinion we won't see a new ATH until a few years.
Losing support and revisiting 20k seems very much in the table, even timeline seems to match!
Don't want to FUD you guys but this is probably the best moment to exit the market, at least partially...
I am building big Gold & Fiat bags in order not to face max pain and huge suffering in the coming months
We just check back that monthly chart after a while and this is quite worrisome to be honest
I was expecting another bull wave all this time aiming for 150k but did not happen as we all know now.
Let's be realistic here, that rejection on top was a big "not this cycle" and that's why we went back down to 20EMA.
A deadcat bounce saved our ass so far but if you want my opinion we won't see a new ATH until a few years.
Losing support and revisiting 20k seems very much in the table, even timeline seems to match!
Don't want to FUD you guys but this is probably the best moment to exit the market, at least partially...
I am building big Gold & Fiat bags in order not to face max pain and huge suffering in the coming months
Trade closed: target reached:
TP reached with +45.30%
Well, who could have known Bitcoin would nuke that sharply? 🤐
I guess we knew we just did not want it to happen but it was all there, TA speaking!
Terra collapse, Celcius & 3AC in liquidation trouble, all those "causes" are just triggers but no point to blame them since it would have happened anyway.
It was definitely the best time to fully exit the market back in February/March.
Now monthly close is approaching and so far 50MA (gray) held pretty nicely, let's prepare for a short-term rally.
But this time it may not be a full recovery due to Stock Market situation ( I will update on that).
We are afraid that after retesting 20EMA (red) we would go hitting 100EMA (orange) for the first time in history!
This level stands around 14.3k right now, and if we go down there we'll better hold or there is almost nothing left to support the macro up-trend...
Well, who could have known Bitcoin would nuke that sharply? 🤐
I guess we knew we just did not want it to happen but it was all there, TA speaking!
Terra collapse, Celcius & 3AC in liquidation trouble, all those "causes" are just triggers but no point to blame them since it would have happened anyway.
It was definitely the best time to fully exit the market back in February/March.
Now monthly close is approaching and so far 50MA (gray) held pretty nicely, let's prepare for a short-term rally.
But this time it may not be a full recovery due to Stock Market situation ( I will update on that).
We are afraid that after retesting 20EMA (red) we would go hitting 100EMA (orange) for the first time in history!
This level stands around 14.3k right now, and if we go down there we'll better hold or there is almost nothing left to support the macro up-trend...
