🔴️️️️️️❗️️️️️️️Bitcoin WILL FALL❗️️️️️️️
because today it once again closed below the 50-week moving average, which has always signaled that the bear market will continue: #BenjaminCowen (1.1 million subscribers)
⚡️️The recent breakout above the 50-week moving average was false, because the price fell back below it. The same thing happened in 2019, after which BTC fell sharply. Also, #BTC lost its May high of 82k.
#BTC is locally at a bull market support zone, having reached the 20-week moving average (SMA).
But it will most likely lose this support zone too, because according to statistics, #BTC bottoms in Q4 of midterm election years, and the stock market correction is also continuing.
⚡️️A bottom has not been reached yet and will form around mid-December, which coincides with the schedule of upcoming Fed meetings. Capitulation will happen then, and only afterward will the market rise.
because today it once again closed below the 50-week moving average, which has always signaled that the bear market will continue: #BenjaminCowen (1.1 million subscribers)
⚡️️The recent breakout above the 50-week moving average was false, because the price fell back below it. The same thing happened in 2019, after which BTC fell sharply. Also, #BTC lost its May high of 82k.
#BTC is locally at a bull market support zone, having reached the 20-week moving average (SMA).
But it will most likely lose this support zone too, because according to statistics, #BTC bottoms in Q4 of midterm election years, and the stock market correction is also continuing.
⚡️️A bottom has not been reached yet and will form around mid-December, which coincides with the schedule of upcoming Fed meetings. Capitulation will happen then, and only afterward will the market rise.
