BTC tends to bounce between the SMA "belts" of my indicator, I think this could easily happen, if it does I think it will delay the bottom of this bear market in bitcoin, it could be a tradeable bounce.
Note
Just an update with what I think the time frame for the dump will be:Also I'm starting to think that the 350/377 day SMA belt wont be the one to stop the rise of the price, I'm thinking that the 128/144 day SMA one (orange and red belt) will be the one resposible to stop the rise, so it wil not rise as much as I expected.. let's see what happens.
Note
My projection for the 200 MA wasnt very accurate.. but I expect the same result, it will drop the price when it meets it, if price can break above 200 day MA it will go to the 233 day MA
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.