BTC is stil far from long term MA on PI Cycle indicator (green line), now about 85k. BTC only have had parabolic runs after breaking and testing this line. Honestly I still don't know what to think about this bull run. Are we going to have much longer run till MArch 2022? Or we can expect some insane moves in december 10-20k per day towards 200k till end of the year?
Comment:
Turns out bearish scenario is in play. First major resistance will be 52-54k and Short term MA (red line) should act as support. If it holds we should see 72-80k bounce, but if it fails than bull market is over and 20k incoming.