Possible FIRST TIME Rejection at 20 Month Moving Average

14 May 2023

Hi everyone,

Thank you for considering reading my idea.

LEGEND
1. Orange - 20 Month Moving Average
2. Highlighted in red are times when Bitcoin broke BELOW the moving average
3. Highlighted in green are times when Bitcoin broke ABOVE the moving average

So far, it looks like Bitcoin is getting rejected by the 20 month moving average. This may be the first time Bitcoin gets rejected in the 20 month moving average if Bitcoin does not break 31K.

Invalidation:
Break above 31K

I am bearish unless invalidated. Getting rejected on a monthly timeframe is EXTREMELY BEARISH.

P/s: March 2020 is a black swan event, it broke below but then broke above a month after so I excluded it.

Thank you for reading my idea. Like this idea and follow me for more ideas like this. NFA. TAYOR. DYOR.

Cheers,
Juvar