The interesting part is the way BTC respected those 200W MA in the previous cycles before, but this should have been expanded rather than just the year 2022. If history repeats and we see another retest maybe around $70K before the next major leg up, that could be one of the best opportunities everyone wished they trade for. Yeah, nothing is a guarantee, but the risk of waiting for a crash is missing the move entirely. I'm curious to see if this cycle will follow the same pattern or it will surprise everyone again.
Honestly, I was expecting a big surge this October. We have already entered the second week of this month but have not seen a significant price surge. Or we might just have to wait until the end of year closing, the situation for which is still uncertain.
I am not sure about retesting $70k, although it could happen. But I still hope the price will continue to rise without dropping to that level. We have already passed the lowest price. A drop not as deep as what has happened could still affect what happens in the market.
I think we are all expecting October to bring a good upward movement, but the market doesn't always play out with way we expect it. There's still a good amount of time before the year end, so I wouldn't rule out that we will not see a bullish move. As for the $70k retest, I wouldn't dismiss that possibility. Bitcoin has surprised us too many times with the unexpected corrections, even when things looked bullish. I'd rather see a price that build strong support at these levels than rush an upward just to lose the gains for a few weeks later. That's a shame.
