Bitcoin broke all the Fib levels in the past few hours breaching the 0.382 level drawn from 2021 Q2 high to Q low. This for me marks the end of its bull run this cycle.
In this chart above, the FIB level is drawn from BTC ATH to today's bloodbath low. Assuming that the bottom is in:
1) BTC broke the 21W EMA, 20W SMA, 200D SMA and currently hovering above the 50W SMA at 47k after breaching it to 42k.
2) Historically speaking BTC will continue to hover here as Alts take over gradually.
3) BTC will top at the 0.702 level set at 60.5K coinciding with current 8W SMA. This 0.702 will mark the kiss of death for BTC before falling into bear market.
4) Meanwhile the Alts historically take over, each popping up on its terms.
In this chart above, the FIB level is drawn from BTC ATH to today's bloodbath low. Assuming that the bottom is in:
1) BTC broke the 21W EMA, 20W SMA, 200D SMA and currently hovering above the 50W SMA at 47k after breaching it to 42k.
2) Historically speaking BTC will continue to hover here as Alts take over gradually.
3) BTC will top at the 0.702 level set at 60.5K coinciding with current 8W SMA. This 0.702 will mark the kiss of death for BTC before falling into bear market.
4) Meanwhile the Alts historically take over, each popping up on its terms.
Note
Keep an eye on the Death Star will show up tomorrow night; the 21W EMA will cross below the 20W SMA.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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.
Unless you figure a way to make money while you sleep, you’ll work till you die.
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.