Bitcoin is testing the weekly EMA200 (4200 avg) on various exchanges. Based on past price action we have not seen:
A) Death cross (EMA50 falling below EMA200 on weekly).
B) Price trading below EMA200 for months.
200 weeks average price approximates 4-years average growth. Thus, this price should provide some insights.
If this level breaks i.e. 4200, BTC can land on Fib0.886=2348 giving a short opportunity.
For now BTC is not a buy unless 4200 holds.
A) Death cross (EMA50 falling below EMA200 on weekly).
B) Price trading below EMA200 for months.
200 weeks average price approximates 4-years average growth. Thus, this price should provide some insights.
If this level breaks i.e. 4200, BTC can land on Fib0.886=2348 giving a short opportunity.
For now BTC is not a buy unless 4200 holds.
Note
If this is true and if there is literally a bottom, then the next growth will be something extra-ordinary i.e. following the Fib extension, here are the numbers:Note
yes, crazy stops:1) 30K
2) 49K
3) 86K
Note
So far BTC is respecting the Weekly EMA200=4200
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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.
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.