BTC 1w logscale 20ma
BTC has held the 20moving average on the weekly timeframe for a couple years now after it crossed it. It is currently fending off lows on lowering volume too (still a few days left till complete candle)
One major thing to note is there has been a large swing down in momentum. Idealistically you would want more sideways and a reclaim of $10,000. Last time it broke 20ma on the weekly was early 2014 and the price tanked 87%.
An 87% drop from highs puts it around the $2400 support level too which is mind blowing.
One major thing to note is there has been a large swing down in momentum. Idealistically you would want more sideways and a reclaim of $10,000. Last time it broke 20ma on the weekly was early 2014 and the price tanked 87%.
An 87% drop from highs puts it around the $2400 support level too which is mind blowing.
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