BTC 2nd Strong (Bearish) MACD Cross
Zaktualizowano
We recently had a strong MACD cross on the monthly chart. This should mean more red than we've seen so far. The 200MA from the weekly chart has provided support in previous bear market lows (outside of COVID19's black swan).
Looking at the last time we had a strong MACD cross, it broke the 1W 50MA and quickly dove to the 200MA. If that happened again we could drop to ~$22500 around July2022. However that is a single data point to reference and our current timeline is likely accelerated. So what we could see is instead of the 1W 50MA being broken five months after the bearish MACD cross, it could happen sooner (especially if there isn't a relief rally).
I created a parallelogram from the daily chart that could be a support zone creating higher lows, it happens to be rubbing up against the 1W 50MA in the near future and could give us a relief rally to >50k... unlikely but similar happened after the last cross.
ON THE FLIPSIDE (literally), as soon as the bottom of the support zone and 1W 50MA is broken odds are in favor of the 200MA getting some love.
Bear in mind this is a long term viewpoint and could have significant volatility throughout. I also acknowledge that I'm late to the 1M chart MACD cross party but here is how I see it!
Looking at the last time we had a strong MACD cross, it broke the 1W 50MA and quickly dove to the 200MA. If that happened again we could drop to ~$22500 around July2022. However that is a single data point to reference and our current timeline is likely accelerated. So what we could see is instead of the 1W 50MA being broken five months after the bearish MACD cross, it could happen sooner (especially if there isn't a relief rally).
I created a parallelogram from the daily chart that could be a support zone creating higher lows, it happens to be rubbing up against the 1W 50MA in the near future and could give us a relief rally to >50k... unlikely but similar happened after the last cross.
ON THE FLIPSIDE (literally), as soon as the bottom of the support zone and 1W 50MA is broken odds are in favor of the 200MA getting some love.
Bear in mind this is a long term viewpoint and could have significant volatility throughout. I also acknowledge that I'm late to the 1M chart MACD cross party but here is how I see it!
Uwaga
CORRECTIONWhere you see "1W 50MA", please replace with "1W 100MA".
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