Let's imagine if today BTC really retraces down to the 200 Day SMA.

Will we get another 2021 situation where price crashes below that SMA and chops sideways for 2 months?

I've read 200 books on trading. Coupled with 6 years in the game, here's what I saw 👇

The 2 charts below show BTC in 2021 and 2024. The pink line is the 150 Daily SMA and the green line is the 200 Daily SMA.

Those with 2021 ptsd will remember the one on the left.

It was a temporary bear market where many were too spooked to buy in when BTC hovered below the 200 Daily SMA.

As a result, many were sidelined when price rose back up above again into a legendary altseason.

Will this happen again?

I believe prices do not repeat patterns, they rhyme. If BTC were to crash and test below the 200 Daily SMA again, likely this time the entire bull market will be over.

Personally, I feel we have more to go in this bull market.

And if I were to make a guess, BTC prices would hover ABOVE the 200 Daily SMA to create fear that it will crash below.

Then out of nowhere it shoots back up into a legendary altseason.

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#bitcoin #bearmarket #cryptocrash