BITCOIN BEAR MARKET TO CONTINUE, NO HIGHER THAN 38.5K IN 2022!
The 200 DMA is a very important level for Bitcoin.
BTC under 200 DMA = bearish
Let's look at the past:
Late March 2014 - Late June 2015 = BTC was below 200 DMA, Bear market, roughly 16 months of bear market. MAJOR BEAR MARKET
March 2018 - April 2019 = BTC below 200 DMA, Bear market, roughly 14 months of bear market. MAJOR BEAR MARKET
September 2019 - April 2020 = BTC below 200 DMA, Bear market, roughly 8 months of bear market. MINOR BEAR MARKET
Late December 2020 - now = BTC below 200 DMA, Bear market, so far 6 months of bear market. MAJOR BEAR MARKET.
Going by historical trends, BTC bear markets tend to last 14-16 months, with a smaller bear market one year before halving (2019, most likely 2023)
Meaning the current bear market is likely to end roughly Jan 2023 - April 2023
Once the 200 DMA starts to come closer to the price action, they we should start seeing bullish movement. These DMA levels move slowly, if we try to draw one, it likely comes close to December 2023... however if BTC falls to 17k or lower, the DMA likely takes 1-2 more months to get to that level, so early 2023 is most likely when this happens.
It takes roughly 90 days for DMA to fall by 10k, in 180 days (roughly 24th of December), the DMA is likely to fall to 18k levels as the current pace
If we go by this chart, it makes it very unlikely that we will see prices higher than 28k after end of September 2022, and unlikely we see BTC close above 38.5k in 2022.
There is chance we could go even lower than 10k in 2022, let's not rule this out! Economic situation is quite bad and we must keep an open mind. Of course odds of going below 10k are low, but they aren't impossible
Each yellow box represents 90 days.
I drew the white lines in the yellow box a little sloppy, so it's not meant to be fully accurate but to get a general idea
BTC under 200 DMA = bearish
Let's look at the past:
Late March 2014 - Late June 2015 = BTC was below 200 DMA, Bear market, roughly 16 months of bear market. MAJOR BEAR MARKET
March 2018 - April 2019 = BTC below 200 DMA, Bear market, roughly 14 months of bear market. MAJOR BEAR MARKET
September 2019 - April 2020 = BTC below 200 DMA, Bear market, roughly 8 months of bear market. MINOR BEAR MARKET
Late December 2020 - now = BTC below 200 DMA, Bear market, so far 6 months of bear market. MAJOR BEAR MARKET.
Going by historical trends, BTC bear markets tend to last 14-16 months, with a smaller bear market one year before halving (2019, most likely 2023)
Meaning the current bear market is likely to end roughly Jan 2023 - April 2023
Once the 200 DMA starts to come closer to the price action, they we should start seeing bullish movement. These DMA levels move slowly, if we try to draw one, it likely comes close to December 2023... however if BTC falls to 17k or lower, the DMA likely takes 1-2 more months to get to that level, so early 2023 is most likely when this happens.
It takes roughly 90 days for DMA to fall by 10k, in 180 days (roughly 24th of December), the DMA is likely to fall to 18k levels as the current pace
If we go by this chart, it makes it very unlikely that we will see prices higher than 28k after end of September 2022, and unlikely we see BTC close above 38.5k in 2022.
There is chance we could go even lower than 10k in 2022, let's not rule this out! Economic situation is quite bad and we must keep an open mind. Of course odds of going below 10k are low, but they aren't impossible
Each yellow box represents 90 days.
I drew the white lines in the yellow box a little sloppy, so it's not meant to be fully accurate but to get a general idea
Comment:
Comment: I meant to say "Late December 2021" instead of 2020. And also "December 2022, instead of 2023". Sorry, can't edit post now
I only share few of my signals & analysis here. For all comprehensive insights & signals, join my Discord! Enjoy a free 14-day trial. Let's make life-changing profits together! We cover scalps, swings, analysis, & more.
discord.gg/TnEAPSEJap
discord.gg/TnEAPSEJap