Bitcoin is right now at a critical zone, same as in March this year before the Corona Crash, which leads to an 58% drop. Right now, Bitcoin touched and got rejected at the 200 EMA in the 4 hour chart. Exactly what it did in March 2020, when Bitcoin was trading the last time below this EMA and got rejected at this level.
The patterns of March and now in September are very similar!
I dont want to say, that we see here a drop again by 58%, but a correction by 35% might be very possible. At roughly 7000 USD we have also a mega support:
- Weekly 200 EMA
- Golden Pocket Zone
- VPVR Support
In case Bitcoin can not hold the levels at 10000 and 9000 USD, this scenario might be very realistic. Only in case Bitcoin will close above the 200 EMA in the 4 hour chart and can then make it above 12000 USD, we might see very soon new all time highs.
The patterns of March and now in September are very similar!
I dont want to say, that we see here a drop again by 58%, but a correction by 35% might be very possible. At roughly 7000 USD we have also a mega support:
- Weekly 200 EMA
- Golden Pocket Zone
- VPVR Support
In case Bitcoin can not hold the levels at 10000 and 9000 USD, this scenario might be very realistic. Only in case Bitcoin will close above the 200 EMA in the 4 hour chart and can then make it above 12000 USD, we might see very soon new all time highs.