Detective_Conan

BTCUSD Monthly 21 EMA significance and pin pointing past bottoms

Short
COINBASE:BTCUSD   Bitcoin
Looks like we are heading to test monthly 21 EMA as support, in the next upcoming month. We may make a bounce a little bit before hitting our Monthly 21 EMA but a Lower High will set the tone for a downtrend continuation. If we look at the past and how BTC reacted with the monthly 21 EMA. We could see that after rising up to its highs in DEC 2017, and JUNE 2018, that the market came down to test 21 EMA as support. the 2017 run held 21 EMA for a whole year before making it's crash to 3k. As we can see then, after the 21 Monthly EMA was broken, we had a 50% flash crash and found bottom. Same with JUNE 2018, although this was just the COVID -19 crash but it had the same effect when 21 Monthly EMA broke support, we had a 50% flash crash and that was the bottom for that cycle period. A 50% flash crash from 21 Monthly EMA as of right now we would hit, 12k BTC.

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