Nothing set in stone in the markets. This weekly target is valid for the next 12 weeks. The 34 weeks WMA provides a very strong support. (currently @ $8862). The only time BTC penetrated below it was back in 2013.
It must be some very negative black swan event for BTC to break below it at once. Otherwise I expect the market to bounce around it for quite some time.
Thank you!
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Just a minor note: At least on charts based on Bitfinex data, we were below the 34W WMA in much of 2014-2015, following the end of 2013 peak and subsequent crash. But since Oct 2015, we have been consistently above the 34W WMA.
Many thanks for the posts!
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That's another story. Breaking below takes time and effort. Staying below is nothing extraordinary.
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