- March 20, 2019
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
As BTC gets closer to the essential MA200 test supported by the MA1400 on 1D, I have come across a new support level level, which has been missing from key analyses out there.
It is known that the Halvings historically signal the start of the new bull market on Bitcoin that escalates into a parabolic run. What we have been missing is that since the Halving the 0.5 logarithmic retracement level has been providing a support. This essentially means that Bitcoin only retraces around half the log scale of its parabolic bull run.
The following month is pivotal for Bitcoin’s trend as I’ve described on a more short term analysis below: