Bitcoin dumping back to 3000$ to start another historical run
As it is so obvious, The end of bitcoin's both bullish runs have formed a clear resistance level. Also the historical support level still remains valid.
Now, as we use the MA 200 and by looking through the chart, we notice that it has taken around 169 days until the MA 200 indicates the trend reversal. This coincidence of time gaps for both bullish and bearish trends indicate that bitcoin's third move (bearish move) is started and will last until the price hits the 3000$ support level (expected to take 341-111(past days)=230 days from today), then the next parabolic run will be started. The price will move toward the resistance level and will break out of it,given the fact that the resistance level is weakened by being tested for 2 times.
Now, as we use the MA 200 and by looking through the chart, we notice that it has taken around 169 days until the MA 200 indicates the trend reversal. This coincidence of time gaps for both bullish and bearish trends indicate that bitcoin's third move (bearish move) is started and will last until the price hits the 3000$ support level (expected to take 341-111(past days)=230 days from today), then the next parabolic run will be started. The price will move toward the resistance level and will break out of it,given the fact that the resistance level is weakened by being tested for 2 times.
Comment:
Note that the date of the start of the bullish run I have predicted is close to bitcoin mining reward halving