I'm not quite sure how strong the bounce is gonna be but this at least gives me some peace of mind that the price is unlikely to drop further from here. I am more bullish on ETH in the coming months but for now, BTC is likely to bounce here.
Trade active
I have assembled a collection of 3 moving averages for this particular trade that work together if you want to keep an eye on BTC via this idea. Those moving averages are: 364SMA, 91EMA, 28EMA; and they will only work on the daily. Use the community indicator called "3ma" and set visibility to only only the 1 day timeframe.28 days in a lunar cycle
13 lunar cycles in a year
28 x 13 = 364 which is a year
364 / 4 = 91
28EMA = Lunar moving average
91EMA = Seasonal moving average
364 = Yearly average
Note
forgot to add that the seasonal moving average is right where the trendline BTC needs to break to go to $100k. And last night btc closed above the lunar moving average and pumped today. I would keep an eye on the 91EMA and the trendline when the prices reaches that which also happens to be where the BTC CME Futures closes its current gap.
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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.