After the massive parabolic rise we had in 2013, 2017 and 2019, it crashed to the 21 daily EMA, then bounced, and then went below it. The 21 daily EMA became resistance. It is very fascinating pattern. That is why I am almost 80% convinced that Bitcoin is gonna drop lower.
Protect your money and good luck.
***Disclaimer: This is a technical analysis not a financial advice.
Protect your money and good luck.
***Disclaimer: This is a technical analysis not a financial advice.
Note
Each time when it crashed to the 21 daily EMA, it bounced 61.8% Fib. But the Bitcoin CME Future hasn't bounced yet, so I think we are going to have some sort of retracement to 11.6K. Maybe it will go up there, maybe not. We have to wait and see how it works out.It bounced in 2014
It bounced in 2018
It bounced in 2019
Are we going to have a bounce in the Bitcoin CME Future chart???
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Note
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Update 11/21/2019
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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.