BitcoinUpdated BTC - Bearish MA13/30 cross forming on the 2 week
The Bearish MA13/30 crossover setup has been observed twice since 2018 on the 2 week chart
The Bearish MA13/30 setup occurs when the faster MA13 ( the white line ) is crossed by the slower MA30 ( the blue line)
In 2018 when the Crossover occurred price fell an additional 60% and in 2020 price fell an additional
50%
Currently it looks like MA/30 crossover is set to occur in February . if Price drops 40% from the crossover the target will be 27k and if Price drops
50% from the crossover the target will be 22k .
NOTE: The crossover is cancelled if BTC is able to move back above the crossover at 50K
The Bearish MA13/30 setup occurs when the faster MA13 ( the white line ) is crossed by the slower MA30 ( the blue line)
In 2018 when the Crossover occurred price fell an additional 60% and in 2020 price fell an additional
50%
Currently it looks like MA/30 crossover is set to occur in February . if Price drops 40% from the crossover the target will be 27k and if Price drops
50% from the crossover the target will be 22k .
NOTE: The crossover is cancelled if BTC is able to move back above the crossover at 50K
Note
*** Now ive been caught out by this move before on the example below for the *WEEKLY* chart in 2021 .In this occasion BTC only dropped 30% from the weekly crossover and I got wrecked as I was expecting a 74% drop from the crossover
Note
The above shows its impossible to call the bottom as BTC is tricky , and instead its best to open small positions for long term holdings as price is dropping .
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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.