BTC just hit the 50-week EMA (green line) for the 3rd time in 2 years.
History shows this level has been crucial:
• 2020-2021: Multiple bounces (green circles) before the cycle ended
• When we finally closed below it? That marked the top
Currently NOT closing my scalp longs, but NOT adding new positions either.
The MTE will guide any new entries.
Remember: Maximum consensus pain = usually wrong on long-term prospects.
That’s always held true for me, personally.
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