Bitcoin Price Watershed - Water Cannon or Waterfall? - CryptoCoinsNews
If we are indeed at a decline low then, we will expect price to conform to this pattern of advance – not in the exact same manner, but with allowance for variation. For example, in the 2012 example, price climbs on top of the 20MA, corrects to below it and then re-establishes trade above the 20MA and achieves the 200MA. Similarly, in both examples, there are similar patterns, circled in orange, that scale the 20MA and then the 200MA – only to resume the decline since correction was not yet over. We should make allowance for this outcome too – never assuming that price action will unfold the same way twice.