On the monthly chart, Bitcoin sliced through the 200 Week Moving Average pretty easily. After easing toward the 300 Week MA is currently sits below that level. The 400 Week MA is currently around 13,750. The white dashed line I put on the chart shows a pretty interesting confluence between that price and a good number of other monthly wicks or closing/opening levels in 2017/2018 and summer 2019.
Seems like that could be a reasonable target level for lowest monthly close of this cycle, although I suppose it would have to happen soon for that possibility to be correct, or the moving average won't line up as closely.
Seems like that could be a reasonable target level for lowest monthly close of this cycle, although I suppose it would have to happen soon for that possibility to be correct, or the moving average won't line up as closely.