Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Extrapolating the 50 & 200 Day MA bear cross. But we rallied above it, it's negated now isn't it? Apparently not, history bluntly tells us.
$12K this month is still possible though, in my honest opinion, as well as $6K by next year. Sorry to be the bear again
Please don't blame me, blame previous price history.
It's time to talk about the bear cross that was confirmed yesterday, the 50 Day MA crossing the 200 Day MA. 3 out of 4 of Bitcoin's bear crosses have been bearish long-term indicating a further 50% drop in price (2011, 2014 and 2018). In the shorter-term, Bitcoin also twice rallied by 50% in two of these occasions (2014 and 2015) before continuing higher or falling back down. Only 1 out of 4 of these cases it came at the end of the bear market, in 2015.
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$12K this month is still possible though, in my honest opinion, as well as $6K by next year. Sorry to be the bear again
Please don't blame me, blame previous price history.
It's time to talk about the bear cross that was confirmed yesterday, the 50 Day MA crossing the 200 Day MA. 3 out of 4 of Bitcoin's bear crosses have been bearish long-term indicating a further 50% drop in price (2011, 2014 and 2018). In the shorter-term, Bitcoin also twice rallied by 50% in two of these occasions (2014 and 2015) before continuing higher or falling back down. Only 1 out of 4 of these cases it came at the end of the bear market, in 2015.
Archived