The report states that bitcoin is currently testing the 50-day moving average, located around $43,000. As of this writing, in fact, it ranks higher, hovering around $44,000 worth of trade on exchanges. This, it should be noted, has occurred just after the breakout of the 20-day. That is what the previous assessment about the rapid rupture of both brands refers to.
Reading this analysis adds that in the event that the cryptocurrency manages to convert the moving average that it is currently challenging into a new support (that is, into a price floor on which to hold on in this cycle), the next rally could be towards $47,000 per BTC.
But there is a caveat that the report suggests: nothing is guaranteed in the markets and technical analysis is not a guarantee either. If it were for that alone, the text says, "it would be easy for us to assume that bitcoin is on the brink of a definitive trend reversal."
However, while there is a "fascinating" similarity between the two downtrends studied, it does not have to be the same as before. After all, "if history were to repeat itself or rhyme, then this would be the most likely scheme." But the market is governed by too many variables: among them, unpredictable macroeconomic events, regulatory advances or unexpected crises that, sentenced in this bulletin, "could negate this scenario."