2022-05-20 13:53:24
In 2018, a pattern was formed which we need to notice because the same kind of pattern was also formed in the chart for 2022.
In 2017 When lower trendline broke after it got rejection by 200M.A, We see a drop in price and it got support near $6000
Same kind of scenario we can see in the pattern of 2022 where the price got a rejection from 200M.A and also broke its trendline and after that, it got support near $30,000
We can say that in 2022 $30k support is working exactly as support of 2018 which was $6k
In 2018 BTC also broke the support of 6k but reclaimed its position above it again and started an upside movement in it.
The same scenario we can expect in 2022, where BTC broke 30k support. We can expect BTC will perform the same as it Performed in past. we will see an accumulation phase near $30k and after that, an upside movement is expected
348 views10:53