Hello friends and HODLers
Professional traders from traditional markets, who traded stocks and other financial instruments, also entered the market. and most of the movements that are happening now with Bitcoin have already occurred with stocks.
You may ask ‘Why’
We will show you the same pattern that Bitcoin did from 2018 to 2019
Reversal pattern – identical.
We showed it with black and white color on the chart.
Another important point that we reviewed for ourself is MA and the cross of death.
The intersection of MA 50 and 200, these movings are true for the classic markets when trading goes 5 days a week. For our market that works 24/7, MA 280 and 70 will be used correctly.
If we used MA50 and MA200 in 2018, then in a few months bitcoin would go above Death cross
If we use MA70 and MA280, we will see that these MAs work perfectly
And now there is no death cross and if you compare it with 2014 – MA70 and MA280 are great.
And MA50 and MA200:
What price will be before the end of the year?
We think we will see the New Year rally, and there will be a lot of good news. Most probably we will see the chart in this range:
We expect a bull trap.
This analysis is done with the help of
EXCAVO, #1 team of analytics on Trading View.