On previous cycles BTC has followed a routine of the 50 SMA crossing the 100 SMA and BTC price bottoming out on the 300 SMA. This has always been followed by a rally price up in 2015, in 2019, and now we are in the same situation.
I believe over time that we will have to start utilizing grater SMA numbers to make up for deminishing returns. In 2015 price barely touched the 300 SMA, in 2019 the same thing happened, and now in 2022 price is sitting on the 300 SMA for weeks and treating it as support.
I am starting to see signs that either during this bear market or the next that we will have to start looking at the lower 400 SMA, which at this moment in time is at ~$13,700.
IF we go slightly lower I can see BTC price touching the 400 SMA at ~14k, but judging by previous bear cycle behaviors we should be at the bottom with a possibility of touching the 400 SMA but that would be followed by a price really as we have done in previous cycles.
I believe over time that we will have to start utilizing grater SMA numbers to make up for deminishing returns. In 2015 price barely touched the 300 SMA, in 2019 the same thing happened, and now in 2022 price is sitting on the 300 SMA for weeks and treating it as support.
I am starting to see signs that either during this bear market or the next that we will have to start looking at the lower 400 SMA, which at this moment in time is at ~$13,700.
IF we go slightly lower I can see BTC price touching the 400 SMA at ~14k, but judging by previous bear cycle behaviors we should be at the bottom with a possibility of touching the 400 SMA but that would be followed by a price really as we have done in previous cycles.