Predict Bitcoin's Price with "W" pattern from the 50 and 200 MA
50 MA in blue, 200 MA in green. There is a "W" pattern where the 50 MA also crosses under or over the 200 MA. It can be useful in short-term and long-term trading.
If the pattern repeats itself, with your ruler you can see that there should be a correction for the next 2 months (according to the previous corrections in the bull run which are about the same length).
It’s also interesting to look at how deep the second correction, or “V”, will go. In the W pattern of End 2019 (October) - Middle 2020 (May), the 2nd dip was deeper than the first and it resulted in a bull market.
We could argue that it also happened back in July/August 2014 – October 2015.
In the W pattern of Middle 2021 (May) - End 2021 (October), the second dip was higher than the first and it resulted in a bear market.
We therefore have to wait to see if there will be a correction and how deep it will be, continue to use indicators, and find patterns.
If the pattern repeats itself, with your ruler you can see that there should be a correction for the next 2 months (according to the previous corrections in the bull run which are about the same length).
It’s also interesting to look at how deep the second correction, or “V”, will go. In the W pattern of End 2019 (October) - Middle 2020 (May), the 2nd dip was deeper than the first and it resulted in a bull market.
We could argue that it also happened back in July/August 2014 – October 2015.
In the W pattern of Middle 2021 (May) - End 2021 (October), the second dip was higher than the first and it resulted in a bear market.
We therefore have to wait to see if there will be a correction and how deep it will be, continue to use indicators, and find patterns.
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