Looking back over the history of BTC when price hits the EMA200 several things have happened:
1. 2018 *BTC hit $3122 *The RSI bottomed out and started to cross upwards *Price danced around the EMA200 *The $3122 low was never broken after that point *Price increased
2. 2020 *BTC hit $3850 *The RSI bottomed out and started to cross upwards *A "V-Shape" recovery happened after hitting the EMA200 *The $3850 low was never broken after that point *Price increased
Here we are in 2022 *Price hit $25,401 *The RSI has bottomed out and has crossed upwards *Price has hit the EMA200 and is recovering
Will we see a "V-Shape" recovery or will the price dance around the EMA200 for a period of time? Will the $25,401 low be broken?
Based on history I would guess that $25,401 is the bottom for this cycle