BTCUSDT: History may repeat itself, just at a smaller scale
THIS IS NOT FINANCIAL ADVISE. Do your own research. This is just my thoughts on BTCUSDT
History may be repeating itself, just at a smaller scale. Current price movement and indicator behavior from August 2021 to September 2021 is similar to the price movement from February 2021 to May 2021.
In case the charts can't explain enough the similarities between the time periods, I will elaborate
1. Wedge with resistance hit 3 times and support hit 2 times before a breakdown(Breakout in reverse)
2. RSI Divergences
3. 100SMA stopping any downside movement
4. Breakdown candles have long wicks and break the 8SMA of the low(red MA)
More Conditions needed for the history repeat to be fulfilled
1. 100SMA Should be broken after a short bounce
2. Sharp drop after 100SMA broken
It will be interesting to see how this analysis plays out. Will history repeat itself? Drop a comment below on your thoughts
Thank you for reading. Drop a comment below for feedback, and like and follow if you like the analysis and want more analysis by me. See you!
History may be repeating itself, just at a smaller scale. Current price movement and indicator behavior from August 2021 to September 2021 is similar to the price movement from February 2021 to May 2021.
In case the charts can't explain enough the similarities between the time periods, I will elaborate
1. Wedge with resistance hit 3 times and support hit 2 times before a breakdown(Breakout in reverse)
2. RSI Divergences
3. 100SMA stopping any downside movement
4. Breakdown candles have long wicks and break the 8SMA of the low(red MA)
More Conditions needed for the history repeat to be fulfilled
1. 100SMA Should be broken after a short bounce
2. Sharp drop after 100SMA broken
It will be interesting to see how this analysis plays out. Will history repeat itself? Drop a comment below on your thoughts
Thank you for reading. Drop a comment below for feedback, and like and follow if you like the analysis and want more analysis by me. See you!