Bitcoin (BTCUSD): end of 10-year cycle chart
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The fall below the 200 WMA (weighted moving average) adds more credence to the idea that 2017 was the end of a larger 10 year cycle, although the drop could be a minor blip like 2012 my bias says otherwise. It is impossible to tell objectively. That is why I average in and out.
200 WMA in purple
If this is an end of cycle scenario, we will fall far below the 200 MA but still have a strong support at 4 to 5k. The bounce when it comes will take the bears by surprise just like it did in February. We will bump up and down for years (potentially decades) to come - possibly with diminishing returns. Enjoy.
200 WMA in purple
If this is an end of cycle scenario, we will fall far below the 200 MA but still have a strong support at 4 to 5k. The bounce when it comes will take the bears by surprise just like it did in February. We will bump up and down for years (potentially decades) to come - possibly with diminishing returns. Enjoy.
Nota
Remember those big a$$ pump/dump wicks just before major sell off? This chart may still be in play. Keep fiat handy, just saying.
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