My opinions about similarity with 2019 and interactions with 200-week Moving Average.
Everything is on the chart. My conclusion is that we have fundamental differences.
We can test it soon since it's close enough but I don't think Bitcoin can maintain an uptrend above that in 2023.
Everything is on the chart. My conclusion is that we have fundamental differences.
We can test it soon since it's close enough but I don't think Bitcoin can maintain an uptrend above that in 2023.
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I believe this is a classic bear market rally, echo bubble, dead cat bounce whatever you wanna say. And it will be completely reversed.
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Is it really similar?
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If this rally was a slow healthy rally that gets us close to 200wma, I would think we'll test it for some time and eventually break it without a huge reversal. But not like this.
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Wanna buy here?
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The main argument of this idea is Bitcoin never had a downtrend below 200wma. Bitcoin never had such convincing macro top structure. So Bitcoin cannot easily build an uptrend above 200wma. My prediction is that it's not gonna be this year at least. To summarize.