So, I use the 730 EMA to identify long term trends. And if we apply the 730 EMA to BTC we see a particular trend. Every time the price dropped below the 730 EMA, BTC dropped to its lowest of about 47%-48% from the point it went below the EMA. This happened in 2015, 2018 and 2020. Now, BTC went below 730 EMA in May 2022 and is currently sitting at about 30% below that line. I believe it will follow the previous pattern and go till about 48% down. And guess what's at 47%-48%, the CME gap of 11-14 Dec 2020.
This is my personal opinion and should not be taken as financial advice.
This is my personal opinion and should not be taken as financial advice.