The chance of us go down below this moving average again, was a greatly decreased, and I stand by that sentence. I believe that it's very, very improbable that Bit coin is going listed under this amount back, but there is more honestly, in case you visit the day-to-day period. Um, and also look at the, uh, 200 every day moving ordinary along with also the 20 every day moving average.
What we find is the fact that, uh, the, the red line, that's the 200 daily given immunity, just a little bit of support directly now, however we failed to grip it above. We broke again. Uh, we got rejected right there, obtained a small correction, but we are above it. We have an everyday closure, and we have even seen consolidation above this 200 every day.
That is very bullish. Um, and the 200 dailies kernel is sitting down eight point 8,000, however, we have to remember that the past moment we broke over the moving average, uhwe did break down below it again. So, um, let's mention it is bullish, however, um, it possible that we might encounter listed below it again, a dip down to the 20-week.
Get encouraged again, fill out the gap. Possibly that is, it remains a possible scenario that we receive a correction in the next few weeks. And let me just show you exactly what I mean. Personally I still think we are on in a up trend, but I think it's possible that Bit coin is about to do some thing in this way is additional correction and they'd go upward or maybe even a rust from such levels, and then we'd go up.
U M nothing could only go up in a, in a eternal uptrend. We need corrections even if we are going bullish within the next few weeks and months. But I really do want to figure out that we did view this fine, uh, bullish cross of this 20 daily and the 200 every day. And the past time we now got a bearish cross was there. And that marked this, um.
Period of the is going to a bearish price action. We were below the 200 each day and we were producing this low a and the more important part here is to check in the last period got a bullish cross because the past time we now got a bullish cross in between both that marked the pretty much exact beginning with this gigantic bull streak up to 14,000 and consider this since this specific moment at which we now acquired this bullish cross, Bit-coin went up.
A 160% in 76 times. Iam not stating that most of us see that happen again, but let us simply play with the idea. In 76 times when people were to really go up A-100 and I am 60 percent there, limiters stands outside as that's exactly what I will need to get here. They could go 160% in a second 70 times, about could, uh, put Bit coin at around $24,000.
source
https://connerakpz339.hatenablog.com/entry/2020/02/29/045234