As I have mentioned earlier this month, BTC price action is consolidating into a more narrower and tighter range hoping to see a breakout/breakdown in the near term. As we continue to wait for either or, prices continue to consolidate putting traders and enthusiasts to sleep. I agree, it's been pretty bleak for the past few weeks.
What we do see is that the .382 support level has not been breached yet but what is alarming to see is the 21 SMA breaking the 100 SMA on the daily last week. The last time this happened was back on August 14, 2018, which then lasted for 6 months.
Will we see this occurring again? If so, should we expect a bear market for another 6 months?
Let me know your thoughts.
What we do see is that the .382 support level has not been breached yet but what is alarming to see is the 21 SMA breaking the 100 SMA on the daily last week. The last time this happened was back on August 14, 2018, which then lasted for 6 months.
Will we see this occurring again? If so, should we expect a bear market for another 6 months?
Let me know your thoughts.
Comment:
well...September 24 was a bit wild.