BitcoinLong
BTC
Price holding comfortably above h4200ema having swept it a couple times in the last day.
If we look back to 2020 markup, we can see that there were multiple retests of the h4200ema.
Very similar to the current price action, after breaking above what was the 2020 range highs, price marched upward for 5-7 weeks before retesting h4200ema as support twice.
In 2023, price broke above its yearly range highs, marched up 5-7 weeks, and is now testing h4200ema as support, just like late 2020 price action.
If history repeats, there is likely to be a continuation much higher from h4200ema.
Losing h4200ema signlas the end of the bull market as we know it, which isn't likely to happen at this relatively early stage imo.
If we look back to 2020 markup, we can see that there were multiple retests of the h4200ema.
Very similar to the current price action, after breaking above what was the 2020 range highs, price marched upward for 5-7 weeks before retesting h4200ema as support twice.
In 2023, price broke above its yearly range highs, marched up 5-7 weeks, and is now testing h4200ema as support, just like late 2020 price action.
If history repeats, there is likely to be a continuation much higher from h4200ema.
Losing h4200ema signlas the end of the bull market as we know it, which isn't likely to happen at this relatively early stage imo.
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