Today's Technical Analysis On Bitcoin Using The Moving Average Indicator - 10% to @tron-fan-club

With everything, there is a first time. The Bitcoin cycle has stopped stretching this market cycle, and Bitcoin has recently breached the support of the previous market cycle peak, sitting over $19k at the present. But it was only a matter of time, because the bottom of each cycle has gotten closer to the top of the preceding one, so if that generates some more fud, I say that's only good if you have cash to buy.

Even if the situation appears grim, Bitcoin's bearish price behavior is not unusual: the 200 weekly moving average normally marks the bottom, but it did briefly touch the 300 MA during the recent plunge. Because the price has already broken down from the 200 MA, the next meeting with fate could be at the 300 MA at $16,5k.

Should the bottom be at the 300 MA, it would still represent a 76% correction, which would be smaller than the last bear cycle's 84 percent corrective. However, because the general public still views Bitcoin as a dangerous asset, the present risk-off macroeconomic environment may exacerbate the problem.

Personally, I consider Bitcoin to be the safest asset available, but the short-term volatility makes it feel dangerous. Start thinking in longer time spans by zooming out. If you have the chance, now is an excellent moment to dollar-cost-average in and bag some amount of BTC.

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_{This is not a financial advise, I recommend you do your own research}

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