The significance? Every previous bull-run had a prior hit/touch at the 100-day(Blue) moving average, with a few at the 50(Green). Bitcoin attempted to make a bull-run recently from the 50 and failed, hence why it's pulling back for a reattempt from the 100.
We'll continue to see downward movement until Bitcoin hits the 100-day moving average and signals an "On-Sale" indicator to investors - Pushing Bitcoin higher and possibly through resistance to new highs.
If it fails again we'll see even more downward movement.
Earliest touch day in path of fire: 17 Feb - $10700
The majority of the market will continue to move with Bitcoin's direction.
We'll continue to see downward movement until Bitcoin hits the 100-day moving average and signals an "On-Sale" indicator to investors - Pushing Bitcoin higher and possibly through resistance to new highs.
If it fails again we'll see even more downward movement.
Earliest touch day in path of fire: 17 Feb - $10700
The majority of the market will continue to move with Bitcoin's direction.