It's not game over yet.BTCUSD-LONG TERM
Updated
Only for a pure informational purpose, I would like to point your attention to a few timeframe related facts.
In various colours I present here simple facts related to previous price action. Firstly the intense red/pink bars indicating amount of weeks it took
BITCOIN to go back to the 20 Weekly Moving Average - I consider in this presentation only those weeks where value drop 35% or more. It never took more than 16 weeks (extreme) for the price to recover back to those levels. That would indicate that if the price would keep dropping, we wouldn't have to wait long (max 8 weeks) for the price to go back to those levels. Second to note is the length of the previous bull market (according to previous data we still have about 6 months to go). Third, notice the dropping transaction volume and steep, explosive price action. Considering the rising BTC awareness, dropping volume, timeframes, and the slowly building hidden bullish divergence, we did not see the final leg of this bull run yet.
In various colours I present here simple facts related to previous price action. Firstly the intense red/pink bars indicating amount of weeks it took
BITCOIN to go back to the 20 Weekly Moving Average - I consider in this presentation only those weeks where value drop 35% or more. It never took more than 16 weeks (extreme) for the price to recover back to those levels. That would indicate that if the price would keep dropping, we wouldn't have to wait long (max 8 weeks) for the price to go back to those levels. Second to note is the length of the previous bull market (according to previous data we still have about 6 months to go). Third, notice the dropping transaction volume and steep, explosive price action. Considering the rising BTC awareness, dropping volume, timeframes, and the slowly building hidden bullish divergence, we did not see the final leg of this bull run yet.Trade active
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