In this chart of Bitcoin on the monthly time frame, we can see that over the last several cycles the blue line, which is the 50-month SMA and comparable to the 200-week SMA because there are four weeks in a month, has typically held price.
With the exception of the FTX collapse and the Covid crash, which also held at the 100-month EMA (shown in purple).
Fairly simplistic diagram but encouraging that we are nearing the bottom of Bitcoin.
We could hold here but I maintain that 50k is the likely bottom.
As we can see, buy blocks there are not on this chart but there is a heavy concentration of buyers between 49k and all the way up to 54k, with the median at 50k, which is where I will be placing my buy orders.
Very possible we could still have some scary news event which causes the final capitulation down to that 50k range, which here would be the purple line of the 100-month EMA.
Let me know your thoughts and comments below.
With the exception of the FTX collapse and the Covid crash, which also held at the 100-month EMA (shown in purple).
Fairly simplistic diagram but encouraging that we are nearing the bottom of Bitcoin.
We could hold here but I maintain that 50k is the likely bottom.
As we can see, buy blocks there are not on this chart but there is a heavy concentration of buyers between 49k and all the way up to 54k, with the median at 50k, which is where I will be placing my buy orders.
Very possible we could still have some scary news event which causes the final capitulation down to that 50k range, which here would be the purple line of the 100-month EMA.
Let me know your thoughts and comments below.
25-year investor & trader, bought 1st BTC at $20
More information:
Work With Me 1:1
moonstreamcoaching.com
Trading Signals: CryptoMastery.org
M3 Active Trader: Moonstream.io/M3
More information:
Work With Me 1:1
moonstreamcoaching.com
Trading Signals: CryptoMastery.org
M3 Active Trader: Moonstream.io/M3
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
25-year investor & trader, bought 1st BTC at $20
More information:
Work With Me 1:1
moonstreamcoaching.com
Trading Signals: CryptoMastery.org
M3 Active Trader: Moonstream.io/M3
More information:
Work With Me 1:1
moonstreamcoaching.com
Trading Signals: CryptoMastery.org
M3 Active Trader: Moonstream.io/M3
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.