During the 2018 bear market, price slowly compressed more and more, with large low volume fakeout pumps for the price to then crash back down.
This is exactly what we're seeing again in 2022.
The reason I think we are close is because the 20 EMA is about to death cross the 50 EMA.
In 2018 this death cross led to 2 months of consolidation, followed by a 50% Capitulation drop!
The bottom of the bear market was the 200MA weekly.
The 200MA weekly is currently 20.7K, although this is likely to be slightly higher by the time Bitcoin crashes 50%.
Bitcoin then ranged for a few months between the 200MA and 200EMA.
There are also a lot of people expecting price to hit 20K which is why it will likely not even reach that low, but let's see about that.
But if you buy now, you better be prepared for 50% drop!
This is exactly what we're seeing again in 2022.
The reason I think we are close is because the 20 EMA is about to death cross the 50 EMA.
In 2018 this death cross led to 2 months of consolidation, followed by a 50% Capitulation drop!
The bottom of the bear market was the 200MA weekly.
The 200MA weekly is currently 20.7K, although this is likely to be slightly higher by the time Bitcoin crashes 50%.
Bitcoin then ranged for a few months between the 200MA and 200EMA.
There are also a lot of people expecting price to hit 20K which is why it will likely not even reach that low, but let's see about that.
But if you buy now, you better be prepared for 50% drop!
