The following conditions are a hypothesis.
Look at the conditions below. Is a deeper downtrend ahead?
1- The 50-week moving average crossed down the 200-week moving average for the first time in Bitcoin history - a crossover that could indicate the depth of the bearish trend compared to previous cycles.
2- For the first time in its history, Bitcoin lost the support of the trend line that it supported since 2013
3- A plotted parallel channel , if valid, Bitcoin will fall to $8,000
What do you think about this death scenario?
Look at the conditions below. Is a deeper downtrend ahead?
1- The 50-week moving average crossed down the 200-week moving average for the first time in Bitcoin history - a crossover that could indicate the depth of the bearish trend compared to previous cycles.
2- For the first time in its history, Bitcoin lost the support of the trend line that it supported since 2013
3- A plotted parallel channel , if valid, Bitcoin will fall to $8,000
What do you think about this death scenario?
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.