- September 17, 2020
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
Yesterday I looked into the importance of the 1D MA50 and how a potential test can affect Bitcoin:
That made me go a timeframe higher into 1W and search for clues on its own MA50. I found a very important cyclical pattern and I want to share it with you.
As you see during each of BTC’s Cycles, when the 1W MA50 (blue trend-line) breaks above its All Time High (ATH), a very strong (parabolic) 1 year rally starts. Currently the price is testing that level (1W MA50), and even though it has been here and there since February, right now it is closer than ever to breaking it (its ATH). What is even more interesting, is that in the past, the price dropped a little before every 1W MA50 ATH break. Which is what happened two weeks ago!
What do you think? Is that pure coincidence or a bullish signal that we should take very seriously? Feel free to share your work and let me know in the comments section!
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