BTC dipped under it's 50 MA for the first time today, it did it 6 times in 2017
As if we needed another reminder letting us know we are likely not near the top yet...
Back in 2017 bitcoin dipped below its 50 MA a total of 6 times.
Every single one of those it eventually bounced and went on to make new highs again.
The average length of time of this dips under the 50 period MA was roughly 12 days.
Check it out:
This is the first time bitcoin has dropped under that MA since this bull market began.
Even if you count the other touch as a break, it's still only the second.
Going off of what happened the last bull market phase, we could have another 4 of these before it's all said and done.
The point in the previous cycle where btc had it's second 50 MA breach was around March of 2017...
Which is more or less where we are right now, hmm...
Stay informed my friends.