BITCOIN Historical Setup! - by DeFeye
Happy Weekend Traders, Investors & Gamblers
Circled in Yellow you can see the LAST and ONLY time EVER, BTC had a fake-out above the 200w SMA back in August 2015. That was also the only period where Bitcoin spent multiple weeks below the 200w SMA.
This is THE thing to look out for in the
BTC charts today!
As you can see here below 👇, we are in a very similar situation right now and it is key for Bitcoin to at least stay above the moving average on a weekly closing basis to avoid a re-test of the current range lows, or even further downside.
Also make sure to check out my post from August 5th (see below 👇), where I went into more detail about the bullruns that followed whenever Bitcoin confirmed support above the 200 week SMA after falling below it (3 occasions total)
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys!
Happy Trading ✌🧡📈
Circled in Yellow you can see the LAST and ONLY time EVER, BTC had a fake-out above the 200w SMA back in August 2015. That was also the only period where Bitcoin spent multiple weeks below the 200w SMA.
This is THE thing to look out for in the
BTC charts today!As you can see here below 👇, we are in a very similar situation right now and it is key for Bitcoin to at least stay above the moving average on a weekly closing basis to avoid a re-test of the current range lows, or even further downside.
Also make sure to check out my post from August 5th (see below 👇), where I went into more detail about the bullruns that followed whenever Bitcoin confirmed support above the 200 week SMA after falling below it (3 occasions total)
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys!
Happy Trading ✌🧡📈
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