BTC | Buy Zone Determined
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So, here we are again approaching the 200-Week MA. It has been the ultimate support for BTC since it appeared on the weekly chart. Add the 1.618 Fib Extension to it and you’ll get a perfect tool for identifying bottoms
200-Week MA + 1.618 Fib extension perfectly caught the bottom in 2015 & 2018 Bear markets and during the Black Swan event in March 2020
And we should not ignore it this time as well.
My BTC Buy Zone is $19,500 – $23,000
I wouldn't dare to call it the ultimate bottom of the Bear Market just yet, but at least we can get a very strong bounce.
Can this bear market be different? Yes, it can. I think the rule that Bitcoin has never tested its peak of the previous bull cycle and never broke the 200-Week MA can be violated this bear cycle. Just keep this in mind and don’t get overexcited.
What do you think about this? Share your thoughts in the comments!
If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss updates
The information given is never financial advice. Always do your own research
So, here we are again approaching the 200-Week MA. It has been the ultimate support for BTC since it appeared on the weekly chart. Add the 1.618 Fib Extension to it and you’ll get a perfect tool for identifying bottoms
200-Week MA + 1.618 Fib extension perfectly caught the bottom in 2015 & 2018 Bear markets and during the Black Swan event in March 2020
And we should not ignore it this time as well.
My BTC Buy Zone is $19,500 – $23,000
I wouldn't dare to call it the ultimate bottom of the Bear Market just yet, but at least we can get a very strong bounce.
Can this bear market be different? Yes, it can. I think the rule that Bitcoin has never tested its peak of the previous bull cycle and never broke the 200-Week MA can be violated this bear cycle. Just keep this in mind and don’t get overexcited.
What do you think about this? Share your thoughts in the comments!
If you like the idea, please, hit the Like button and subscribe to the profile in order not to miss updates
The information given is never financial advice. Always do your own research
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