Trader_J
Trader_J 1 minutes reading from Bitcoin

Bitcoin News in Review: $BTC, Bitcoin Cash, ETC, Yearly Death Cross

Why is this BTC Cycle Different?

2014= Blow-Off Top, 200WMA Bottom 2018= Blow-Off Top, 200WMA Bottom

But, 2022= Distribution Top, 200WMA Lost Plus, Yearly Bearish Engulfing Candle.

Logically, The last two times the 200WMA Successfully Held. So the Weekly Death Cross didn't happen. But this time price is now below 50WMA and 200WMA. So there is the thought of Death Cross. We can't ignore it.

Invalidation and Target?

Invalidation : Death Cross is likely to be invalidated if BTC breaks 50WMA and holds.

Target: If it's Death Cross, I don't know what will happen. Because it has never happened before in history. Maybe a new low or something very bad.

I take care of your money. So I was careful in critical positions. Invalidation very clear. Your favorite trader/influencer will not be able to disagree.

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This post is based on this twitter thread.

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