According to CryptoQuant, the Bitcoin chart has revealed a unique pattern that has caught the attention of many investors and traders. A pattern previously seen in market bottoms may be noticed by adding the 200-day moving average (MA-200) line and realized price to the long-term chart.
The formation of a long-term bottom is typically predicted by the overlap or crossing of the 200-day moving average from the top to the realized price. This pattern has been observed in previous years, specifically in 2019, 2015, and 2012. Following these patterns, Bitcoin underwent a long-term rising trend.
Let me start by saying that 200MA is not associated with any pattern in the market, only price action could. You can only use the 200MA as support and resistance, but in relation to any pattern, so let's get that straight.
What you are believing with the so-called site is so unprofessional to me, and I can't relate that to any history repeating itself, it's another way for these people online to make you believe something. Even when their said pattern is spotted as seen on the site, the price action and 200SMA still signalled a bearish trend. So, how does a reasonable trader go for "Buy" in that circumstance?
Follow the right price action and decisive breakouts for trading advice and you will be fine. I view this as a gamble, and you should proceed to believing it at your own risk.