If we break the local downtrend line, it is possible Bitcoin could go high enough to try the resistance at around $54k.
Do you think it'll happen? Let me know in the comments! :)
Coin Metrics:
The most recent price of BTC at the time of writing is: $36294.25.
The 200 Simple Moving Average (SMA) is at: $40353.3.
The percentage distance from the latest BTC price and the 200 SMA is: -10.0%.
A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further.
Average Candle Height (ACH) for BTC: 5.7%.
Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like XVS can have 15% ACH or more.
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Happy trading, folks! Please like and follow if you'd like to see more of my content :)
Do you think it'll happen? Let me know in the comments! :)
Coin Metrics:
The most recent price of BTC at the time of writing is: $36294.25.
The 200 Simple Moving Average (SMA) is at: $40353.3.
The percentage distance from the latest BTC price and the 200 SMA is: -10.0%.
A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further.
Average Candle Height (ACH) for BTC: 5.7%.
Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like XVS can have 15% ACH or more.
---------------
Happy trading, folks! Please like and follow if you'd like to see more of my content :)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.