Historically, 2 confluences has been great time to pick some cheap bitcoin . Is this time different? Maybe but until it is proven wrong it is not.
200 Week moving average
Logarithmic curves
As the chart suggests, we not only have 2 but 3 confluences as 1.618 Fib level is close (Green Box)
Yes this does mean in short term we may visit lower levels but this could arguably be accumulation of the decade.
200 WMA has been a great support for Bitcoin as unless some “black swan” event occurs, I do see it holding for Bitcoin .
We have broken lower from the logarithmic support band but it isn’t the first time it happened and that can be seen as an “opportunity” rather than a broken model. Price is short lived at those levels.
I firmly believe “all models are wrong, some are useful”
Lemme know in the comments if I am missing anything and I will plot it for you.
Trade well.
