I've used the following Exponential Moving Averages for my idea: 9,34,50,100, & 200
BTC's Weekly tends to stay above the 34EMA occasionally wicking down to test this average.
in 11 hours from posting this idea, BTC's Weekly will likely close red. This should see the 9EMA crossing under the 34EMA.
In it's history, Bitcoin has taken 161 to 343 days for this to correct.
If history remains true, Bitcoin will not recover until December 2021, possibly as late as June 2022.
"All Good Things Come to Those Who Wait"
BTC's Weekly tends to stay above the 34EMA occasionally wicking down to test this average.
in 11 hours from posting this idea, BTC's Weekly will likely close red. This should see the 9EMA crossing under the 34EMA.
In it's history, Bitcoin has taken 161 to 343 days for this to correct.
If history remains true, Bitcoin will not recover until December 2021, possibly as late as June 2022.
"All Good Things Come to Those Who Wait"
@DoubleOhCrypto
price eventually tests the 50 and 100 EMA.
after this happens, price has eventually recovered after testing the 200EMA at least 2 times. granted, the second instance of the 9 crossing under the 34 and then going on to test the 200 was during a pandemic when wall street fell apart.
just prior to the pandemic in September of 2019, price seems to recover after testing the 100EMA. All (5) EMAs begin to align in January 2020 until the pandemic offers one last set back before the bull run.
after the 9 crosses under the 34 (which is in 3hrs) Bitcoin will go on to test the 100EMA and possibly find support. This is currently around $19,841.
if the 100EMA doesn't hold and offer a rebound in price action, BTC goes on to test the 200EMA. This is currently around $13,583.
we'll see. these indicators don't account for ELON fud or hype.