Bitcoin (BTCUSD) almost hit early this week its 1W MA20 (blue trend-line) and so far it appears to be holding it. Whether that leads into a sustainable rebound or not it remains to be seen but this is historically a critical level for the market.
More specifically, as you can see on the charts above, the 1W MA50 has initiated every Cycle's final rally since 2013! To make this special occurrence even more interesting, every such consolidation/ pull-back before the final rally, took place within the August - September period (2021, 2017, 2013).
So if it holds once again, we see no reason why it shouldn't start again the Cycle's last rebound. And since the first two Cycles are more similar with each other, we might assume that the current would be more similar with 2017. Since that one topped very close to the 2.0 Fibonacci extension from the low of the final pull-back, we could get a peak this time around $140k.
Do you think history will repeat itself again and hit at least $140000? Feel free to let us know in the comments section below!
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More specifically, as you can see on the charts above, the 1W MA50 has initiated every Cycle's final rally since 2013! To make this special occurrence even more interesting, every such consolidation/ pull-back before the final rally, took place within the August - September period (2021, 2017, 2013).
So if it holds once again, we see no reason why it shouldn't start again the Cycle's last rebound. And since the first two Cycles are more similar with each other, we might assume that the current would be more similar with 2017. Since that one topped very close to the 2.0 Fibonacci extension from the low of the final pull-back, we could get a peak this time around $140k.
Do you think history will repeat itself again and hit at least $140000? Feel free to let us know in the comments section below!
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.