Scroll back to 2015 to find the location!
The 200-Day Moving Average and 128-Day Moving average on the weekly has been taken as a reference for the analysis.
Fact: Bitcoin did not even test the 128-Day Moving Average before. Moving on, it is likely that we can expect another huge pullback to the 128-Day moving average around $6800. However, the market is completely bullish at the moment.
The difference between the previous bear markets and ones before it that this bear market was squeezed to a very short interval.
Anyway, if we break below the 128-Day Moving Average. We can expect a to-and-fro between 128-Day and 200-Day moving average for a while until it's over.
The 200-Day Moving Average and 128-Day Moving average on the weekly has been taken as a reference for the analysis.
Fact: Bitcoin did not even test the 128-Day Moving Average before. Moving on, it is likely that we can expect another huge pullback to the 128-Day moving average around $6800. However, the market is completely bullish at the moment.
The difference between the previous bear markets and ones before it that this bear market was squeezed to a very short interval.
Anyway, if we break below the 128-Day Moving Average. We can expect a to-and-fro between 128-Day and 200-Day moving average for a while until it's over.