Bitcoin Is Battling For It's Future Between These Two Indicators
I hate picking sides, especially when two of my favorite friends are fighting...
I've made a lot of money with the 200MA... and made a lot of money with the 200EMA.
I just wish they would get along, but alas...
This is a pretty unique situation for Bitcoin to be in, where the price is now trapped between the 200EMA and the 200MA.
In a very simplistic view, I think this is mostly algorithms trading these ranges and I think that whichever one breaks first with a weekly candle closing will dominate the price trend.
In the history of Bitcoin, price has never closed below the 200MA on the weekly chart.
So if we do move to the downside, we will be making history. Odds and statistics say we don't break it and close below it, but crazier things have happened in crypto.
What indicator do you think will lose the battle?
LEAVE A COMMENT BELOW AND POST YOUR REASONING!
We caught the falling wedge structure...
We timed the pull back and the bounce...
We caught the breakout...
Found a great exit before the last drop...
Will Bitcoin drop from here based on my last analysis?
Stay tuned to find out...!
If you haven't checked out my Risk Management Guide yet, please head over here and check it out. VERY in depth guide on all things risk management.
Thanks for reading! Make sure you follow me and if you like my analysis, like the chart. :)
I've made a lot of money with the 200MA... and made a lot of money with the 200EMA.
I just wish they would get along, but alas...
This is a pretty unique situation for Bitcoin to be in, where the price is now trapped between the 200EMA and the 200MA.
In a very simplistic view, I think this is mostly algorithms trading these ranges and I think that whichever one breaks first with a weekly candle closing will dominate the price trend.
In the history of Bitcoin, price has never closed below the 200MA on the weekly chart.
So if we do move to the downside, we will be making history. Odds and statistics say we don't break it and close below it, but crazier things have happened in crypto.
What indicator do you think will lose the battle?
LEAVE A COMMENT BELOW AND POST YOUR REASONING!
We caught the falling wedge structure...
We timed the pull back and the bounce...
We caught the breakout...
Found a great exit before the last drop...
Will Bitcoin drop from here based on my last analysis?
Stay tuned to find out...!
If you haven't checked out my Risk Management Guide yet, please head over here and check it out. VERY in depth guide on all things risk management.
Thanks for reading! Make sure you follow me and if you like my analysis, like the chart. :)
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