Bitcoin and It's Events

[ImThour]

Hey Everyone,

Elements of the Chart:
1. 3 Weekly Moving Averages
- 50 MA (Light Blue)
- 100 MA (Blue)
- 200 MA (Purple)

2. 4 Vertical Lines
- Black Line: Price under 50 MA After New ATH
- Red Line: 100 MA crosses 50 MA
- Green Line: 50 MA crosses 100 MA
- Orange Line: Bitcoin Halving

Things to Note:
1. All of these vertical lines occur in a sequence.
2. Price always touch 200 MA (Purple) after Black Line i.e. making a new ATH.

What 100 MA Cross 50 means?
It means that Bottom is in.

What 50 MA Cross 100 means?
It means that Bull Run is about to start.

When is 4th Bitcoin Halving?
Expected in March, 2024.

Where are we now?
1. Price has made a new ATH in November, 2021.
2. Price is under 50 MA after New ATH.

What is expected?
1. Price to touch 200 MA.
2. Waiting for 100 MA to cross 50 MA.

Thanks for reading out the post.

[Poker Player]

I'm not too keen on technical analysis, as I am a long-term investor, and in the past I used to follow technical analysts who used to be wrong on several occasions. The more cautious ones always use words like "most likely to be"....

I see a well worked post, the only thing I think it would lack is a more explicit conclusion. We are about to enter a bull run, I understood?

I infer that from what you say that we are currently waiting for 100 MA to cross 50 MA and that means Bottom is in.

[Ararbermas]

If it's expected to touch 200 EMA again, i am afraid for breakouts below since the prices already showing a double top and for sure if we were gonna use a candle stick chart we can see some respected areas on the as well.

And infact that 200 EMA has been tested 3 times since the graph show a clear structure, so i hope it still a strong support because as far as i know such pattern sometimes is getting weaker if the price keep respecting the level especially if it fails to break out above and to continue the trend. Which is surely it will tends to restest and if it fails again there will be a downtrend afterwards (correct me if i'm wrong).

[ImThour]

I infer that from what you say that we are currently waiting for 100 MA to cross 50 MA and that means Bottom is in.

Bottom is in when there is a crossover between Blue and Light Blue, which hasn't happened yet.

I see a well worked post, the only thing I think it would lack is a more explicit conclusion. We are about to enter a bull run, I understood?

I thought a pattern is enough for someone to understand what is going to happen. I have also mentioned what we can expect now.

What is expected?
1. We are currently waiting for 100 MA to cross 50 MA.
2. Price to touch 200 MA.

Repeating that, we are waiting for a crossover between 100 MA and 50 MA and then, we are going to touch 200 MA.

And infact that 200 EMA has been tested 3 times since the graph show a clear structure, so i hope it still a strong support because as far as i know such pattern sometimes is getting weaker if the price keep respecting the level especially if it fails to break out above and to continue the trend. Which is surely it will tends to restest and if it fails again there will be a downtrend afterwards (correct me if i'm wrong).

You are right, 200 MA on Weekly has been the strongest support ever for Bitcoin. This time like always, we are going to retest it in upcoming weeks/months and it will surely pick an upward momentum from there.

[adaseb]

The 200 MA in the chart is the 200 WMA which is the weekly moving average. As you can see it bounced perfectly every time it touched. However it’s a line chart and if you switch to a candlestick chart you will see that it dipped below it however it never closed below it.

Currently it’s like $20K. So in a few months it might be at $25K and if Bitcoin breaks that $28K we made in the Summer then I can see the 200 WMA having many buyers lined up.

I don’t think it will close below it.

[ImThour]

The 200 MA in the chart is the 200 WMA which is the weekly moving average. As you can see it bounced perfectly every time it touched. However it’s a line chart and if you switch to a candlestick chart you will see that it dipped below it however it never closed below it.

Currently it’s like $20K. So in a few months it might be at $25K and if Bitcoin breaks that $28K we made in the Summer then I can see the 200 WMA having many buyers lined up.

I don’t think it will close below it.

Yes, that’s what the whole chart means.
Price expected when it will touch 200 MA is $24k.

[GreatArkansas]

Bitcoin block halving is still far. I am still looking forward that the Bitcoin price will test the 200 MA (PURPLE) until the Bitcoin block halving event. But as long as we are above 100 MA, I believe it's still bullish for midterm - long term.
When the price falls below 50MA before, I started to become bearish for short-term to mid-term for Bitcoin and now it is testing again if it will break as resistance, so I am still bearish for short term - mid term.

[ImThour]

Quick Bump

Price already touched 200 MA, now waiting for 100 MA to cross 50 MA.

[ImThour]

Update: 100 MA crossed 50 MA.

[adaseb]

I think this week or this month we will get a clear trend which way we will trade for the remainder of the year. Currently on the 13th we got CPI data. We are expecting it to be flat. If it’s flat or if it’s negative then I am expecting a large rally. If it’s something high like +1% then it’s obviously very bearish however with price of fuel I don’t expect this to happen.