On the recent bull run, we see BTC repetitively flew from 144 WMA and the more range that it has the harsher the pullback.
It happens twice in December and in February when the chart is on an incredible uptrend and flies past the 144 WMA and a harsh correction occurs. The first one that I pointed on the chart leads to a 28% pullback after running a 128% surge. The pullback occurs for 22 days and appointing the purple support line along with the blue support line that was a resistance in the past.
The next bull run lasts shorter than the previous with only 20 days because the surge is steeper than previous respected to the 144 WMA and a harsh pullback with an approximately almost identical price drop of 27.28%, currently, I think BTC is only on a mild correction as the 144 WMA is now aligned with the red support line, the other case is BTC drops one more time to the purple line before finally rallying up to pass ATH and the preparing itself for the next bull run.
It happens twice in December and in February when the chart is on an incredible uptrend and flies past the 144 WMA and a harsh correction occurs. The first one that I pointed on the chart leads to a 28% pullback after running a 128% surge. The pullback occurs for 22 days and appointing the purple support line along with the blue support line that was a resistance in the past.
The next bull run lasts shorter than the previous with only 20 days because the surge is steeper than previous respected to the 144 WMA and a harsh pullback with an approximately almost identical price drop of 27.28%, currently, I think BTC is only on a mild correction as the 144 WMA is now aligned with the red support line, the other case is BTC drops one more time to the purple line before finally rallying up to pass ATH and the preparing itself for the next bull run.
