200 Week Moving Average Forecast ? BTC/USDT #Bitcoin $BTC
What will next year bring for Bitcoin price ? Does the 200 Week Moving Average actually act as a support for Bitcoin ? A recent article that literally came out today says will BTC will never drop below its' 200 Week MA which sits near 6700 as you can see on the chart ( it's the blue line with the blue arrow pointing at it .) So they are saying Bitcoin will never drop below 6700 ever again ? I disagree . As you can see we clearly dropped below the 200 Week MA in March - and actually wicked quite a bit below it . If we follow that March wick down we see our lower trendline in purple with a purple arrow pointing at it . I think Bitcoin will wick down here again , probably next year , and that would take us down to 5xxx or 4xxx ,possibly lower . But definitely that is below 6700 ! I suspect the author of the article is not really a trader . Did they even look at the chart ? Anyway I respectfully disagree with their statement that Btc is not going below 6700 again . I think it is , but will be in 2021 .
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