Hi everyone,
Thank you for considering reading my idea.
In this pattern, we are seeing the 20 week moving average in red, and the 200 week moving average in green. We can see back in 2015 and 2019, they ALMOST formed a death cross and Bitcoin price has been mostly above the 200 week moving average.
Our current scenario, in the next few weeks, we may see a death cross between these two moving averages. We can also see that Bitcoin has been mostly below the 200 week moving average, compared to 2015 and 2019. The pattern could be broken where Bitcoin will PROBABLY not rally higher in the next few months since this is the first time we are seeing this. Although, you can also say that this is just a unique scenario but the pattern will still play out.
Overall, I'm still neutral but a bit leaning to a bearish scenario. A bullish scenario wouldn't hurt as well. If we break the 20 week moving average and hold it as support, I would be more bullish.
Thank you for reading my idea. Like this idea and follow me for more ideas like this. NFA. TAYOR. DYOR.
Cheers,
Juvar
Thank you for considering reading my idea.
In this pattern, we are seeing the 20 week moving average in red, and the 200 week moving average in green. We can see back in 2015 and 2019, they ALMOST formed a death cross and Bitcoin price has been mostly above the 200 week moving average.
Our current scenario, in the next few weeks, we may see a death cross between these two moving averages. We can also see that Bitcoin has been mostly below the 200 week moving average, compared to 2015 and 2019. The pattern could be broken where Bitcoin will PROBABLY not rally higher in the next few months since this is the first time we are seeing this. Although, you can also say that this is just a unique scenario but the pattern will still play out.
Overall, I'm still neutral but a bit leaning to a bearish scenario. A bullish scenario wouldn't hurt as well. If we break the 20 week moving average and hold it as support, I would be more bullish.
Thank you for reading my idea. Like this idea and follow me for more ideas like this. NFA. TAYOR. DYOR.
Cheers,
Juvar
Comment:
We have officially crossed
