The 21 week MA was tagged last Wednesday for
BTC
Watching the 21 week SMA & 50 week SMA can serve as a great medium term risk gauge for Bitcoin
Crosses of these moving averages have been decent 🟢buy &🔴sell signals to date
The 21 week SMA held for the 2015/17 bull run, and it holds today.
All the same I would not be surprised to see price penetrate as deep as $52,000. The 50 weekly SMA is currently at c. €43,000 (think a badass wick)
As long as these moving averages are moving up and to the right, have not been breached by price and have not crossed, the primary bullish trend is intact.
This chart would obviously need to be considered in combination with others however it is a great way to remain level headed with the long term perspective in mind. Once we start losing levels, we can start getting worried. If we get a negative cross, a reduction in spot allocation would be very wise.
Long term timeframes with these smooth moving averages can be brilliant reminders of the primary trend trajectory. Patience my friends.
Lets keep an eye on these levels
P
#Bitcoin
BTC
Watching the 21 week SMA & 50 week SMA can serve as a great medium term risk gauge for Bitcoin
Crosses of these moving averages have been decent 🟢buy &🔴sell signals to date
The 21 week SMA held for the 2015/17 bull run, and it holds today.
All the same I would not be surprised to see price penetrate as deep as $52,000. The 50 weekly SMA is currently at c. €43,000 (think a badass wick)
As long as these moving averages are moving up and to the right, have not been breached by price and have not crossed, the primary bullish trend is intact.
This chart would obviously need to be considered in combination with others however it is a great way to remain level headed with the long term perspective in mind. Once we start losing levels, we can start getting worried. If we get a negative cross, a reduction in spot allocation would be very wise.
Long term timeframes with these smooth moving averages can be brilliant reminders of the primary trend trajectory. Patience my friends.
Lets keep an eye on these levels
P
#Bitcoin
