Bitcoin bulls may win big as two key moving averages prepare to cross
History repeating itself would be good news for those looking to enjoy further BTC price upside. Bitcoin (BTC) lost a key bear market trendline last week as it shed almost 12%, but other chart data offers a silver lining for bulls.As noted by popular Twitter user Dave the wave on Aug. 24, long-term moving averages (MAs) are about to repeat classic bullish behavior.Analyst: Bulls could be about to "do well"BTC/USD disappointed over the weekend as it put in lows not seen since the end of July. Since then, $21,000 has offered only weak support, and fears abound that new lows are coming.One of....
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A weekly close much below current levels would be a problem, analysis warns, as key moving averages hang in the balance. Bitcoin (BTC) needs to retain two key moving averages in order to stay bullish, but is failing, fresh analysis shows.In its latest market update on Sept. 10, trading platform Decentrader warned that bulls do not have the upper hand much above current price levels.A "golden cross" like any other?Bitcoin has drifted lower into the weekend, at the time of writing sitting near $45,500. This is below the significant 200-day moving average (MA) and barely above the 50-day....
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 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....
A longer-term view of the Bitcoin price chart shows that the moving averages are more closely compressed - and aligned - than they have been in over a year. Price action has narrowed in range and is tending toward $240 and 1480 CNY. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 14h02 UTC. Bitfinex 4-Hour Chart. Why The Preference For BTC-China Charts In Analysis? From the analysis pages of xbt.social, earlier today: Failing to....