End of Bitcoin's 7-week uptrend and the risk of breaking the historical pattern
End of Bitcoin's 7-week uptrend and the risk of breaking the historical pattern
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⚡️ In 3 seconds
Bitcoin, with a weekly close at $74,968, fell below the 50-week moving average, ending a consecutive 7-week uptrend
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📊 The numbers you need to know
• $74,968 is the weekly closing price ending November 8, recorded 0.7 percent below the 50-week moving average
• $59,517 is the market cycle bottom recorded on June 28, serving as the final red line to maintain the uptrend scenario
• 36 percent is the support cushion ratio relative to the bottom at the time of recovery, considered the lowest in surveyed history
• 5 is the total number of 50-week moving average recoveries after bottoming since 2012 to present
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🔍 What 90% of the media doesn't say
Media outlets have focused on breaking the weekly signal, but the hidden angle is that Bitcoin's support cushion in this cycle is smaller than ever, and historical-like percentage drops hurl the price below the previous bottom
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⚖️ Two sides of the coin
🟢 In similar historical examples where this line was lost, the bear market bottoms were preserved, and the final price returned to the peak within two years
🔴 The size of the price cushion is much thinner than the past, and the historical sample size has been only 5 cases, making a definitive bottom diagnosis difficult
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🎯 What does it mean for your wallet?
The asset has settled below the 50-week moving average, and with the occurrence of forced liquidations, market risk has increased
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💬 In your opinion, can Bitcoin maintain the June bottom, or is history not repeating this time
📌 Send this important analysis to your trader friend so they know the hidden market risks
#Bitcoin #Market_Analysis #Cryptocurrency #Dossier
━━━━━━━━━━
⚡️ In 3 seconds
Bitcoin, with a weekly close at $74,968, fell below the 50-week moving average, ending a consecutive 7-week uptrend
━━━━━━━━━━
📊 The numbers you need to know
• $74,968 is the weekly closing price ending November 8, recorded 0.7 percent below the 50-week moving average
• $59,517 is the market cycle bottom recorded on June 28, serving as the final red line to maintain the uptrend scenario
• 36 percent is the support cushion ratio relative to the bottom at the time of recovery, considered the lowest in surveyed history
• 5 is the total number of 50-week moving average recoveries after bottoming since 2012 to present
━━━━━━━━━━
🔍 What 90% of the media doesn't say
Media outlets have focused on breaking the weekly signal, but the hidden angle is that Bitcoin's support cushion in this cycle is smaller than ever, and historical-like percentage drops hurl the price below the previous bottom
━━━━━━━━━━
⚖️ Two sides of the coin
🟢 In similar historical examples where this line was lost, the bear market bottoms were preserved, and the final price returned to the peak within two years
🔴 The size of the price cushion is much thinner than the past, and the historical sample size has been only 5 cases, making a definitive bottom diagnosis difficult
━━━━━━━━━━
🎯 What does it mean for your wallet?
The asset has settled below the 50-week moving average, and with the occurrence of forced liquidations, market risk has increased
━━━━━━━━━━
💬 In your opinion, can Bitcoin maintain the June bottom, or is history not repeating this time
📌 Send this important analysis to your trader friend so they know the hidden market risks
#Bitcoin #Market_Analysis #Cryptocurrency #Dossier
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Persian original · View this post on Telegram ↗ · Open in the archive · 💬 Discuss in the Coin_Kurd Telegram group · Educational, not financial advice.