$BTC
🚨📢 you lot are sitting about waiting for Bitcoin to bounce off the 50-day moving average as per usual, completely ignoring the current market conditions. Aye, fair enough, in previous rallies that average was a proper solid support, and the price didn't drop below it the last two times
But have a proper look at the chart, it's a weekly timeframe—we're talking about the 50-week average, not the daily. The price has closed below it after spending seven weeks right above it. In past cycles, this average often backed the bull runs, and reclaim setups usually pointed to bottoms, but it's been lost mid-cycle before without killing the rally entirely, like back in 2012 and 2020
$ETH
Even the 50-day moving average got smashed more than once during the 2021 run. A bounce is on the cards if the buyers step in and defend this level, but history isn't set in stone
conditions change all the bloody time. Keep a close eye on the weekly close before you make your move
$SOL
#BitcoinFiveWeeklyLosses
🚨📢 you lot are sitting about waiting for Bitcoin to bounce off the 50-day moving average as per usual, completely ignoring the current market conditions. Aye, fair enough, in previous rallies that average was a proper solid support, and the price didn't drop below it the last two times
But have a proper look at the chart, it's a weekly timeframe—we're talking about the 50-week average, not the daily. The price has closed below it after spending seven weeks right above it. In past cycles, this average often backed the bull runs, and reclaim setups usually pointed to bottoms, but it's been lost mid-cycle before without killing the rally entirely, like back in 2012 and 2020
$ETH
Even the 50-day moving average got smashed more than once during the 2021 run. A bounce is on the cards if the buyers step in and defend this level, but history isn't set in stone
conditions change all the bloody time. Keep a close eye on the weekly close before you make your move
$SOL
#BitcoinFiveWeeklyLosses
