BitcoinShort
We have seen this before.
Updated
If we loook at 2017 sep 1st. btc hitted resistance THE SAME ONE that BTC hit right now.
The funny fact is that in 2017 we came to that resistance from almost the same price point like we did now. Only now it took longer.
Anyway short term im bearish. But long term if BTC drops to 2019 lows and then again moves up to todays price - im bullish. We had the same in 2017 rally.
There is no reason for crypto rally AT ALL, but there were no reson for it in 2017 too. People just FOMO in, maybe this will happen again.
The funny fact is that in 2017 we came to that resistance from almost the same price point like we did now. Only now it took longer.
Anyway short term im bearish. But long term if BTC drops to 2019 lows and then again moves up to todays price - im bullish. We had the same in 2017 rally.
There is no reason for crypto rally AT ALL, but there were no reson for it in 2017 too. People just FOMO in, maybe this will happen again.
Note
Of course the main difference is that now BTC broke 200 day MA. and it may be support which is about 4600$ while in 2017 even when btc dropped in september it never broke 200 d MA. So my theory may not be very valid. Depends on what trade bots prefer more 200 MA or some historical events.
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