The following conditions are a hypothesis.
Look at the conditions below. Is a deeper downtrend ahead?
1- The 50-week moving average crossed down the 200-week moving average for the first time in Bitcoin history - a crossover that could indicate the depth of the bearish trend compared to previous cycles.
2- For the first time in its history, Bitcoin lost the support of the trend line that it supported since 2013
3- A plotted parallel channel , if valid, Bitcoin will fall to $8,000
What do you think about this death scenario?
Look at the conditions below. Is a deeper downtrend ahead?
1- The 50-week moving average crossed down the 200-week moving average for the first time in Bitcoin history - a crossover that could indicate the depth of the bearish trend compared to previous cycles.
2- For the first time in its history, Bitcoin lost the support of the trend line that it supported since 2013
3- A plotted parallel channel , if valid, Bitcoin will fall to $8,000
What do you think about this death scenario?
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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.