BTC: First close below the bull market support band this year!

2023年8月21日

In previous years, the bull market support band (b.m.s. band) has been an excellent indicator of a shift in the market.
When the price gets below the band, the price tends to get into a bear phase. And when the price breaks above and holds above the band, the price tends to start a new bullish trend.
As of now, the price has closed below the b.m.s. band for the first time this year. This potentially marks the start, or some would say continuation, of the downtrend that many people had been discussing.
In my humble opinion, this confirms a more significant downtrend. The market has shown a lot of weakness for the past many months.
I'm expecting 21k at first and 15k after that. For now, one should stay away from Altcoins as they can drop another 70-80% should BTC drop a lot further.

Stay safe!

2023年8月21日

註釋

2023年8月21日

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The 20 WSMA

2023年8月21日

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The 20 WVWMA

2023年8月21日

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The 30 WVWMA

2023年8月21日

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It definitely doesn't look good. A downward continuation is expected.

2023年8月23日

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2023年8月23日

註釋

If DXY keeps its bullish momentum, The price of BTC is likely to go down!

2023年8月25日

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2023年8月27日

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The housing market has experienced a swift and pronounced deterioration. Current purchasing conditions have reached a point that has only been witnessed twice since 1960. The market was grappling with significant recessions on both of these previous occasions.

2023年8月28日

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There's a possibility that the price bounces to 28k And bearish continuation afterward!

2023年8月28日

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There's a possibility that the price bounces to 28k And bearish continuation afterward! - Retest of the B.M.S. band and fill the CME gap at 27.8k.

2023年8月29日

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The price is filling the Gap!! As expected!

2023年9月5日

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A retest of the BMS band has historically confirmed the bearish or bullish trend.

2023年9月10日

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