Why is 8k BTC a good thing? Look at the chart.
Looking at this chart you can see BTC challenged the daily 128MA multiple times on it's previous run up in 2017 (Green line).
During BTC's marvelous run to 20k, BTC touched down at least 4 times.
January 2017 - 0.618 retrace with strong support from D128MA.
March-April 2017 - 0.786 retrace twice finding catapult like support from D200MA.
July 2017 - 0.618 retrace with strong support on D128MA
Finally - Sept 2017 - 0.618 retrace with once again, a rocket ship launch from the D128MA.
Now, let's take a look at 2019's bull run. As you can see, we have not retraced to a complete 0.50 yet nor have we even tested the D128MA. Based on history, BTC will retest either the 0.5 or 0.618 as well at the D128MA before another launch into space. There is no need for panic or fear as historically you can see what happens each time BTC has tested those levels. Load the bags and enjoy the ride.
0.5 retrace - (8600)
0.618 retrace (7400)
0.786 retrace (5633)
Looking at this chart you can see BTC challenged the daily 128MA multiple times on it's previous run up in 2017 (Green line).
During BTC's marvelous run to 20k, BTC touched down at least 4 times.
January 2017 - 0.618 retrace with strong support from D128MA.
March-April 2017 - 0.786 retrace twice finding catapult like support from D200MA.
July 2017 - 0.618 retrace with strong support on D128MA
Finally - Sept 2017 - 0.618 retrace with once again, a rocket ship launch from the D128MA.
Now, let's take a look at 2019's bull run. As you can see, we have not retraced to a complete 0.50 yet nor have we even tested the D128MA. Based on history, BTC will retest either the 0.5 or 0.618 as well at the D128MA before another launch into space. There is no need for panic or fear as historically you can see what happens each time BTC has tested those levels. Load the bags and enjoy the ride.
0.5 retrace - (8600)
0.618 retrace (7400)
0.786 retrace (5633)