200 Week Moving Average Forecast ? BTC/USDT #Bitcoin $BTC
A recent article stated that Bitcoin will never drop below its’ 200 Week MA near 6700 ever again . I disagree . WE have clearly dropped below it in March . We wicked quite a bit below it . Down to that purple lower trendline .I believe we will wick down there again – it is certainly possible and that would take us to approximately 5xxx or 4xxx or possibly lower but probably not until 2021 as Bitcoin is still for the moment .
You can see that important 200 Week MA in blue on my chart with the blue arrow pointing at it , and it’s sitting near 6700 now . I have to disagree with people who say this will hold in the future as we can always wick below ( and recover quickly . ) I think we will wick below the 200 Week MA and go down to that lower trendline which you see on my chart in purple with a purple arrow pointing at it . A wick down there could happen in 2021 imo .