We compare two historical trends, in 2018 in September 2019, are both sideways after the high decline.
2018 was 65 trading days before breaking down, hitting a low after 2017 while opening the starting point for the 2019 bull market.
Also in September 2019, after 110 sessions, it broke the ma144, but broke down and hit $4,000 behind the 2019 low, of course after opening the big bull market of 2020, hitting a high of $65,000.
Compared with the above two segments, we see that it is also under ma144. If we choose upward here, it should be very difficult. We may copy the trend of 2019, fall again after breaking through ma144, and hit a new low, and then start a new round of bull market.
But this is not a certain trend, after all, the history of Bitcoin is too short, and if we use chart analysis, we can refer to very limited data. But this market, the fundamentals are also lacking, even the most believing people, I am afraid also can not find much basis.
So in such a case, we must maintain enough caution, the best operation, of course, is to adhere to the right trading strategy of the band trading, so that even if the mistakes, we will not lose, at least we can have the chance to correct the mistakes.