The 20W MA (pink) has never in BTC's history crossed below the 200W MA (blue).
What does this mean for BTC?
Bearish case:
If they cross we'll be underwater for a long long time. I'm talking possibly 1 year just to recover the 200W MA.
Bullish case:
If they don't cross this means we need a run on BTC in the coming weeks and from my previous post you can see the bullish scenario that would most likely play out.
Both scenarios have a role. I'm personally leaning towards the bullish case and somehow we either nuke down and collect all the orders and come straight back up or BTC just mean reverts up. Again this is the bullish case.
Stay safe.
BTCUSD
What does this mean for BTC?
Bearish case:
If they cross we'll be underwater for a long long time. I'm talking possibly 1 year just to recover the 200W MA.
Bullish case:
If they don't cross this means we need a run on BTC in the coming weeks and from my previous post you can see the bullish scenario that would most likely play out.
Both scenarios have a role. I'm personally leaning towards the bullish case and somehow we either nuke down and collect all the orders and come straight back up or BTC just mean reverts up. Again this is the bullish case.
Stay safe.
BTCUSD
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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.