Bitcoin has moved above the 200 SMA, well positioned for further movement upwards. If BTC can sustain above the 200 SMA, we should soon see a golden cross of the 55 and 100 EMAs. Without being too dramatic, if history repeats itself then this could even be the beginning of a two year bull run, leading into 2021!
Will it hold, though? What if this is a fake-out that leads to a continuation of the bear trend?
A third possibility is that we range here for some time, before starting a move to leave the 200 SMA behind for good. Let's see.
We can continue to watch BTC's price action near the 200 SMA (at around $9000) to see whether the new trend develops.
Happy trading :)
Will it hold, though? What if this is a fake-out that leads to a continuation of the bear trend?
A third possibility is that we range here for some time, before starting a move to leave the 200 SMA behind for good. Let's see.
We can continue to watch BTC's price action near the 200 SMA (at around $9000) to see whether the new trend develops.
Happy trading :)
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.