We have discovered something which suggest that $20K seems inevitable. This chart is based on 4EMA's on weekly.
First time bearish cross over happened was 3rd Sept 2018 and price dumped to over 56%
Second time this occurred in March 2020 (Covid Crash) and price dumped up to 55%
This is the 3rd time we are seeing this bearish cross over on weekly and lets say if we dump 50% from here then we are looking at sub $20k levels.
We also see the price breaking down from ascending channel which is another bad sign and to top it off we are close to a death cross on 3D chart so all of these confluences align with depressing bearish trend which can last up to 3 to 6 months or maybe a year but not more than this.
Kindly share, like and comment on our analysis.
First time bearish cross over happened was 3rd Sept 2018 and price dumped to over 56%
Second time this occurred in March 2020 (Covid Crash) and price dumped up to 55%
This is the 3rd time we are seeing this bearish cross over on weekly and lets say if we dump 50% from here then we are looking at sub $20k levels.
We also see the price breaking down from ascending channel which is another bad sign and to top it off we are close to a death cross on 3D chart so all of these confluences align with depressing bearish trend which can last up to 3 to 6 months or maybe a year but not more than this.
Kindly share, like and comment on our analysis.
Trade closed: target reached
Target successfully hit in 1 month and 9 days.
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if you want to get daily future/spot calls, Join our Premium discord by clicking on the following link
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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.