BTC rejected
Updated
Maybe it was just a little green bump on the way down.
Note
We’re now approximately 18-20% above the 20 W sma. It looks like 29K was the bottom and that we are in a double peak cycle. But for the health of the market it’s ideal to test the bull market support band (20 W sma) so that we can ride the wave to a new ATH with more confidence.Note
So far btc is holding pretty good above the bull market support band. On September 7 we touched the 20 W sma (on Kraken) and managed to stay above the line. If btc holds this line for a longer period, we can build a good foundation for another run and new ATH in spring 2022. Just like btc did from May-October 2020 before the run to 64K$. Sideways is boring but important to build support.
If btc goes below 40K$ and stays there too long (>2 weeks), expect a drop and a bearish situation for max 3 months or so before back up.
Good luck friends.
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