1ShinigamiRyuk

BITCOIN BOUNCE FROM WEEKLY 50MA AND BREAKDOWN TO WEEKLY 100MA

Short
INDEX:BTCUSD   Bitcoin
After each cycle top, Bitcoin tends to go down till weekly 50MA, bounce around 50-70%, then retest the weekly 50MA and breakdown to weekly 100MA (Currently at 23K and increasing) and weekly 200MA (Currently at 15K and increasing)!
Interestingly, Weekly RSI is almost at the same level too!

Will history repeats itself this time?

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.