Looking back over the history of BTC when price hits the EMA200 several things have happened:
1. 2018
*BTC hit $3122
*The RSI bottomed out and started to cross upwards
*Price danced around the EMA200
*The $3122 low was never broken after that point
*Price increased
2. 2020
*BTC hit $3850
*The RSI bottomed out and started to cross upwards
*A "V-Shape" recovery happened after hitting the EMA200
*The $3850 low was never broken after that point
*Price increased
Here we are in 2022
*Price hit $25,401
*The RSI has bottomed out and has crossed upwards
*Price has hit the EMA200 and is recovering
Will we see a "V-Shape" recovery or will the price dance around the EMA200 for a period of time?
Will the $25,401 low be broken?
Based on history I would guess that $25,401 is the bottom for this cycle
1. 2018
*BTC hit $3122
*The RSI bottomed out and started to cross upwards
*Price danced around the EMA200
*The $3122 low was never broken after that point
*Price increased
2. 2020
*BTC hit $3850
*The RSI bottomed out and started to cross upwards
*A "V-Shape" recovery happened after hitting the EMA200
*The $3850 low was never broken after that point
*Price increased
Here we are in 2022
*Price hit $25,401
*The RSI has bottomed out and has crossed upwards
*Price has hit the EMA200 and is recovering
Will we see a "V-Shape" recovery or will the price dance around the EMA200 for a period of time?
Will the $25,401 low be broken?
Based on history I would guess that $25,401 is the bottom for this cycle