Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 20/01/2024, 00:29:28 UTC
⭐ Merited by AlcoHoDL (1)
<snip> (convince me otherwise).
Why should we...you already have it all mapped out  Roll Eyes

Imho, unless we go under 36K on a weekly, we are still in a bull phase.

For meeeeeeeeeee, a break below $36k (or $35k) would merely mean that we broke to the downside out of the the don't wake me up zone, which is currently something like $35k to $55k.

In other words, we seem to be in a bull phase (or a bull trend or whatever you want to call it) since around the end of 2022, even though we might not have realized it (realized that the $15,479 bottom was in) until either the middle or the end of 2023.. .

In other words, anyone seeing us revisiting the bottom or even sub $20k? 

Alternatively anyone see us going below the 200-week moving average for any significant period of time? 

The 200-week moving average is currently around $30.5k...

I am not sure what it would take for me to conclude that the bull phase is over, especially given that we spent around 16 months either below the 200-week moving average are bouncing around close to it... and right now, as I type this post, we are about 37% above the 200-WMA, so sure on January 11, we had a BTC price peak that brought us to right around 60% above the 200-week moving average, so BTC price performance had seemed to have had been better, just a bit over a week ago, but still 37% above the 200-week moving average is not a bad place to be considering where we spent a lot of time between mid 2022 and about October 2023.