BTC showing similarities between now and February
Here's what we know for BTC: There are some similarities between the charts in February, right before COVID, and the charts now. Last time we dropped this far below the 200MA on the 4hr chart was February 26th. On the highest volume during the drop we were about 275% above the volume average.. When we dropped below the 200 MA on September 3rd, volume was about 275% above the volume average. When we made the drop below the 200ma in February we dropped 15.04% from the swing high. In both charts, the highest volume was 12hrs before the next retracement. When we made the drop below the 200ma on the 3rd we dropped 17.38% from the swing high. In February at our peak we were 12.82% above the 200MA. On August 17th, last time BTC peaked, we were 11.5% above the 200MA. This is also the furthest below the 200MA the 21 and 50 have been since February. This is a historical comparison between now and last time we were underneath the 200MA on the 4hr chart. Just looking at these charts they look similar but not the same. I am neutral as of right now. We could pump and continue our uptrend! These comparisons help keep us focused and prepared for any scenario
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