On a weekly time frame, we can notice previously on average 50% drop after SMAs cross over.
Also, the RSI here after hitting 17k gave us an extremely oversold signal.
In 2015, we stayed sideways after reaching a similar point.
In 2019 couple of months of sideways and then we bounced back up and then corrected again.
And now we are entering October, which previously was a bullish month on many previous cycles.
I think Bitcoin this time will do well in October going above 25k and then correct again maybe retesting 17k
Also, the RSI here after hitting 17k gave us an extremely oversold signal.
In 2015, we stayed sideways after reaching a similar point.
In 2019 couple of months of sideways and then we bounced back up and then corrected again.
And now we are entering October, which previously was a bullish month on many previous cycles.
I think Bitcoin this time will do well in October going above 25k and then correct again maybe retesting 17k
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