srezz.. I always respect your view and your TA, I have this theory that I would appreciate your opinion on it
The recent surge in all alts reminded me with the market back in June, so I am comparing the current BTC market with BTC market in June. When looking at BTC market during that time (weekly bars), I see that after all time high (at that time), BTC drops and bounces from 13WMA, then gets rejected by the upper BB (20,2) then bounces again from 13WMA, then drops all the way down to 34WMA, in the current market I see that after all time high the drop went to 13WMA, I was hoping a fast recovery but the market got rejected by upper BB and I don't see that strong bull move, so testing the 13WMA within the next week is still valid, if the market didn't go up from there, do you think the 34 WMA would be the next stop? which sets around 7-8k.. or this whole theory is just overwhelmed with history nothing more?
Thanks in advance