Bitcoin 4 Year SMA. Best tool we have to call the bottom for BTC
Notice the price action near the green & red lines. Look below the green line (23.61% Fibonacci), there are 2 grey lines and then the orange & the same thing when looking above the red line (76.39% Fibonacci).
History shows us that we rarely go above or below the red/green line, and if we look to the right, it looks like it's trying to break below. When price action bounces off one of these logarithmic fib levels.
That should be a very good sign that things are turning around. But you also gotta remember that anything is possible. With $BTC at the KEY LEVEL, fighting to stay above the green 23.61% Fib...
The FOM C meeting could send us the right to the bottom of the channel. Coming down to that orange bottom fib would be around $18,000 - $20,000 depending on how long it takes to get down to that level.
We also have the 4-year SMA (1460 Day SMA) being hit again for the 4th time since 2015 & each time we came down to the MA the bottom was in and we flipped bullish.
One last thing... My 4 Year, 200 Week, 1460 Day M.A (whatever M.A you like better) is a heatmap, and if we take a look we can see that we have now stopped printing the teal/light blue & we now are starting to see
some dark blue beginning to appear. This is just another signal to add more confluence towards the idea that we might have bottomed out & we could see a reversal in the not-so-distant future!
History shows us that we rarely go above or below the red/green line, and if we look to the right, it looks like it's trying to break below. When price action bounces off one of these logarithmic fib levels.
That should be a very good sign that things are turning around. But you also gotta remember that anything is possible. With $BTC at the KEY LEVEL, fighting to stay above the green 23.61% Fib...
The FOM C meeting could send us the right to the bottom of the channel. Coming down to that orange bottom fib would be around $18,000 - $20,000 depending on how long it takes to get down to that level.
We also have the 4-year SMA (1460 Day SMA) being hit again for the 4th time since 2015 & each time we came down to the MA the bottom was in and we flipped bullish.
One last thing... My 4 Year, 200 Week, 1460 Day M.A (whatever M.A you like better) is a heatmap, and if we take a look we can see that we have now stopped printing the teal/light blue & we now are starting to see
some dark blue beginning to appear. This is just another signal to add more confluence towards the idea that we might have bottomed out & we could see a reversal in the not-so-distant future!