In a bull market, this blue horizontal line represents the lowest closing price between the point after all 6 MA's moved below the point of control and the point where all 6 MA's were no longer below the point of control.
This pattern has happened 3 other times in bitcoins history (2011, 2012, 2020, and now in 2023) but has not happened every cycle.
Nevertheless, when this price line is established, the price has never again closed below the line. Will we brake the pattern this cycle? Or will the pattern continue. What are your thoughts?
This pattern has happened 3 other times in bitcoins history (2011, 2012, 2020, and now in 2023) but has not happened every cycle.
Nevertheless, when this price line is established, the price has never again closed below the line. Will we brake the pattern this cycle? Or will the pattern continue. What are your thoughts?
