Looking back at 2018 (left chart), when the 50MA (green) crosses the 200MA(red), we have a 40 percent rally to the fib. 0.618 level (green line in my fib box) before we settle for another 40 percent dip BELOW the previous low.
Not saying this will happen again, but, If this move is to happen again, we can see a rejection after a rally to the same 0.618 fib level (around USD 44700) in my right hand chart, the current BTCUSD price action chart.
My Lower price target if its to happen again would then be:
1. 28K range
2. 24K range
3. 20K range
and not saying it will break and touch all of my downside price levels, I am just listing out prices where we can see more demands coming in to the market.
P.S this is only an "if scenario" if we replicate previous pattern of 50MA crossing 200MA in 2D chart.
#NFA
#DYOR
Tell me what you think below.
Not saying this will happen again, but, If this move is to happen again, we can see a rejection after a rally to the same 0.618 fib level (around USD 44700) in my right hand chart, the current BTCUSD price action chart.
My Lower price target if its to happen again would then be:
1. 28K range
2. 24K range
3. 20K range
and not saying it will break and touch all of my downside price levels, I am just listing out prices where we can see more demands coming in to the market.
P.S this is only an "if scenario" if we replicate previous pattern of 50MA crossing 200MA in 2D chart.
#NFA
#DYOR
Tell me what you think below.