Bitcoin | Back To Basics Part 3: Moving Averages Cross Over

31 Ogo 2024

We are going back to basics. These are the lessons I used to share in 2018.

The black line stands for MA200.
The magenta line stands for EMA55.

MA200 is a slow moving moving average.
EMA55 is a fast moving moving average, in comparison to MA200.

➖ The bullish cross

When EMA55 moves above MA200 we have a bullish cross. This is a bullish signal.
Here it happened in January 2023 and October 2023, in both cases this signal preceded a major rise in prices.

➖ The bearish cross

When EMA55 moves below MA200 we have a bearish cross. This is a bearish signal.
Here it happened recently, mid-August 2024. This signal points to a major decrease in prices.

These basic signals support all the more complex analyses I've been sharing.

There are many of these. I can find literally hundreds.

➢ If you have experience or have been with me for many years you will find this boring.

➢ If you are new, you might find this useful.

➢ If you've been burdened by too much information, too many opinions and complexity, you might find this enlightening and soothing for your mind.

In any case, please support this trade-idea with your comments and boost.

Thank you for reading.

Namaste.

6 Sep 2024

Dagangan aktif

Bearish cross over confirmed. Bitcoin is now moving lower and gaining in bearish momentum.