The 20 Week MA has a been strong area of support for the market. This seems like good buying area, but if we don't hold this support line we could see a test of the 50 week. No one knows where the market is going, but we do know that volatility is coming...
We can see back in May of 2017, when we broke out of the green band we went straight to the purple band and bounced between those levels for about 180 days.
Now to January 2021, we have broken out of the green band and we are approaching the purple band. Nothing is certain, but bitcoin tends to follow these regression bands.
