In my opinion, BTC will move down to app. 20,000$ soon or late. and i have reasons for what i say:
1- "MA 120" has crossed down "MA 375" in daily time frame. In the history of btc,every time this event's happened, bit has experienced a sharp move downside, no exceptions! you can check it out.
Why MA 120 and MA 375? Every chart has it's own specific MA period of which the chart has shown the best reactions to that.For btc, those are 120 and 375 which you can check it out as well.
2- The volume is still low and i think we need much more volume for btc to make a run.
3-In the 6months TF, we have a strong pin bar which could be an alert.
This analysis will be invalid in case BTC crosses 53K up.
Will be glad to hear your opinions.
1- "MA 120" has crossed down "MA 375" in daily time frame. In the history of btc,every time this event's happened, bit has experienced a sharp move downside, no exceptions! you can check it out.
Why MA 120 and MA 375? Every chart has it's own specific MA period of which the chart has shown the best reactions to that.For btc, those are 120 and 375 which you can check it out as well.
2- The volume is still low and i think we need much more volume for btc to make a run.
3-In the 6months TF, we have a strong pin bar which could be an alert.
This analysis will be invalid in case BTC crosses 53K up.
Will be glad to hear your opinions.
