Thread on why BTC is going to 3k in future
Triple MA Structure Low Mid High
Bullish Structure - Low > Mid > High Bearish Structure - High > Mid > Low
Since the beginning of BTC in 2009 till 2021 - Monthly MA Structure was a continuous Bullish Structure
Since June 2022 MA Structure finally changed to Bearish structure with a "confirmation of continuation"
Here's how -
For conversion to Bullish to Bearish
Low MA has to cross Mid MA and come below it. Which it did in the month of August 2022
When the Low MA went below Mid MA We have to see if there is price closing below High MA before the Low and Mid Cross. Which Indeed happened on June 2022
This confirms birth of Bear Rally for the first time in BTC history.
What happens next?
Current MA Structure is Mid Low High Which means we will see Low crossing High MA and going below it and making a MA Strcuture
Mid High Low
When that happens.
There are 2 things that can happen
Price will go above the Mid MA during MA Structure
Mid High Low
It is called Bull Trap - Expected price 30-50k
Or Else Price continues to drop without any pump (standard Bear Trend)
Making Mid MA cross High MA making a complete Bearish MA Structure
When can we expect the Low MA to cross High MA and go lower it?
By December 2022 Closing
Which means in Q1 2023 we will find out if we get a Bull Trap pump or continuation of Bear Trend.
Later on I will create a drawing for you all to better understand what's coming based on Macro Monthly TA MA Structure.This post is based on this twitter thread.