Bitcoin slipped below the 20-week exponential moving average for the first time since February 2020, which is a big bearish signal.
Bitcoin (BTC) bulls should brace for aggressive downside market corrections in the sessions ahead, especially as the benchmark cryptocurrency breaks below a critical support level.Dubbed as the 20-week exponential moving average (20-WMA), the wave has historically served as a primary downside target for bulls to accumulate BTC. For instance, the BTC/USD exchange rate maintained its bullish bias all across 2020 while trading above the 20-WMA wave. It eventually closed the year up more than 400%.Similarly, the 20-WMA wave supported massive bullish rallies in the April-June 2019 session. Meanwhile, the price floor overstayed its welcome in the 2015-2017 session as Bitcoin surged from $250 to $20,000.Conversely, slipping below the 20-WMA wave brought havoc to the Bitcoin market. For instance, the Ja

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Źródło: https://cointelegraph.com/news/bitcoin-chart-fractal-notorious-for-60-70-price-crashes-is-back-what-s-next