Only 3 times in Bitcoins history has it lost the 800 Daily EMA. This triggered a 40-50% drop each time. The recovery back above the 800 EMA afterwards took less and less time.
In 2014, BTC held the 1600 EMA as support after breaking the 800 EMA an dropping a further 53% (1600 EMA not pictured)
It took 323 days to recover and then stayed above the 800, peaking at $19,790 4 years later. A 11,900% rise.
In 2018, we experienced a 43% drop once we broke the 800 daily EMA and held the 2000 EMA as support. It took 162 days for bitcoin to return to the 800 EMA and then we saw a 300% move to the upside in 2019.
In March 2020, we dropped the 800 again (everyone knows why) and we saw a 44% drop. Again, holding the 2000 EMA as support. This time, it only took 42 days to return to the 800 EMA which eventually lead to our current ATH and a 1,650% rise.
Currently BTC is down, hitting a low this weekend of around $35,300. This low stopped just above the 800 EMA.
I expect a little rally to 39-41k this week based on the liquidity available. There is now $22B worth of shorts that will be wiped out if price can get close 39-41k
After that, a shake out is still very possible. We still need to break the 21/7/21 candle at $29.8-32.1k before further downside is possible. If we don't get this break then the bottom for bitcoin may already be in.
HOWEVER, if we do, then a 40% drop below the 800 EMA & 2000 EMA support will take $BTC to $19.7-21.8k
If you understood nothing, understand this....
If Bitcoin breaks $29,800 any time soon and makes its way to $20,000 again, THIS LEVEL WILL BE HEAVILY DEFENDED.
This will be your chance for life changing wealth with one smart decision.
The recovery has shortened every single time. It only took 42 days after the pandemic. You may not get that much time this time.
Don't try to pick the bottom.
Just buy little bits on the way down, the bottom will be found eventually.
I have already started doing this.
15k difference in buy levels is nothing when you realise that after $BTC last low in 2020, we saw a 1,700% rise.
NFA but if you believe Bitcoin is a forever up asset with big pullbacks along the way, then buy it.
In 2014, BTC held the 1600 EMA as support after breaking the 800 EMA an dropping a further 53% (1600 EMA not pictured)
It took 323 days to recover and then stayed above the 800, peaking at $19,790 4 years later. A 11,900% rise.
In 2018, we experienced a 43% drop once we broke the 800 daily EMA and held the 2000 EMA as support. It took 162 days for bitcoin to return to the 800 EMA and then we saw a 300% move to the upside in 2019.
In March 2020, we dropped the 800 again (everyone knows why) and we saw a 44% drop. Again, holding the 2000 EMA as support. This time, it only took 42 days to return to the 800 EMA which eventually lead to our current ATH and a 1,650% rise.
Currently BTC is down, hitting a low this weekend of around $35,300. This low stopped just above the 800 EMA.
I expect a little rally to 39-41k this week based on the liquidity available. There is now $22B worth of shorts that will be wiped out if price can get close 39-41k
After that, a shake out is still very possible. We still need to break the 21/7/21 candle at $29.8-32.1k before further downside is possible. If we don't get this break then the bottom for bitcoin may already be in.
HOWEVER, if we do, then a 40% drop below the 800 EMA & 2000 EMA support will take $BTC to $19.7-21.8k
If you understood nothing, understand this....
If Bitcoin breaks $29,800 any time soon and makes its way to $20,000 again, THIS LEVEL WILL BE HEAVILY DEFENDED.
This will be your chance for life changing wealth with one smart decision.
The recovery has shortened every single time. It only took 42 days after the pandemic. You may not get that much time this time.
Don't try to pick the bottom.
Just buy little bits on the way down, the bottom will be found eventually.
I have already started doing this.
15k difference in buy levels is nothing when you realise that after $BTC last low in 2020, we saw a 1,700% rise.
NFA but if you believe Bitcoin is a forever up asset with big pullbacks along the way, then buy it.