BTC MAs Defeat the Death Cross? $7,800 and Google say yes.

15 oct. 2019

Before the recent confirmation of the $7,800-8,400 support range, the MAs were signaling a severe Death Cross. The 7.8-8.4 range has established stability with the 50 and 100 day MAs now sloping evenly with the overall downward trading range, and this is at the same intersection as a consolidating downtrend versus a rising 200 day and this support range all near the same place. The market believes BTC is very nearly fairly priced. I do believe $7,800 is the new $6,500, so if we lose it we won't have any real historical support until $3,500.

There is a lot of attention around BTC right now, I think more than ever, and especially as supported by Google Trend Analysis (see linked idea its quick) this could be as strong an upswing since late 2017. That much volume will likely test at least $9,500 or $10,000 maybe even before the end of November but at least by the End of 2019.

I think $7,800-$8,400 holds and we see a strong bounce up to $9,500 or more by the end of the year.