Bitcoin Analysis: Week of Sep 14 (Intro to Moving Averages)
In last week’s post we concluded with the following statement: With our Bearish stance we were expecting to see lows in the vicinity of the U$440-450 zone. Price did fall immediately after the publication but made what can be considered a higher low at US$456 and then another one at US$459 the next day. The big question now is: Are these lows in the Mid US$450’s here to stay for a while or is more downside on the way? So on that note, let’s take a look at the long term picture. We are now changing our view point to Long-Term (tentatively) Bullish, Intermediate -Term Bearish, and Short-Term....
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BTC price at press time: US$243.25. The midweek price alert began with: “Bitcoin has finally broken above the noted 50-day Exponential Moving Average (EMA) at US$232 and done so with force. It now also sits above the 100 day EMA (~US$242) as well. It’s possible a change of trend could be underway, but it is still too early to tell. This move has been made on very small volume and On Balance Volume confirms this. If the trend is truly going to change, volume should ideally come in.” The price reached a high of ~$256 and has now come down to ~US$243 and thus far the price has been....
The 20-Day moving average strategy provided good returns in 2018 and 2019, while the 50-Day MA strategy did better in 2021 and 2022. One of the simplest strategies for trading cryptocurrencies involves the application of moving averages (MA). The basic premise is that if the price of an asset is above its moving average for a certain number of days, this is considered a buy signal. Once it falls below its moving average, the asset is sold, and a cash position is maintained until the price crosses the moving average again in the upper direction.Cointelegraph Consulting’s latest bi-weekly....
Bitcoin price action will stay stuck in the lower half of its macro range unless two key moving averages can flip to support. Bitcoin (BTC) may have rebounded strongly in recent days, but its journey to new highs is only just beginning — and far from guaranteed, a new analysis suggests.Updating a Twitter debate on Feb. 9, popular trader and analyst Rekt Capital identified two key targets BTC/USD must reclaim as support for bulls.Bitcoin key macro resistance levels now in placeDespite being up 13% in a week on Wednesday, Bitcoin is still far from November’s peak of $69,000.For Rekt Capital,....
Bitcoin may be moving closer to the kind of long-term support zone that has characterized major bottoms in past cycles, but one technical analyst believes the market has not reached that moment just yet. An interesting technical analysis points to Bitcoin’s weekly moving averages as the clearest guide for where this decline could finally exhaust itself. That setup shows that the current price action may be narrowing to form a bottom, even though one more leg lower below $60,000 could still come first. Bitcoin Has Already Entered A Late-Stage Correction Bitcoin has been in an extended....
Bitcoin Price Key Highlights. Bitcoin price has slowly been gaining ground against the U. S. dollar, thanks to weaker expectations of a Fed interest rate hike before the end of the year. Price is moving inside an ascending channel forming on the longer-term time frames, suggesting that bullish momentum is just getting started. Bitcoin price is stalling at an area of interest near the moving averages but might be able to sustain its upside momentum after bouncing off the channel support. Resistance at $280. Price is currently testing resistance near $280, as this lines up with the dynamic....