BTC's relation with the 200 and 50/55MA (On Daily)
Looking at history of BTC on daily when we have gone below 200, there has been a history of coming up to kiss/touch or even hover above the 200 (two times) before breaking back above again with confirmation and confirming/continuing bullish trend.
With Technical Analysis there are no certainties, and with patterns we look for rhyming - but not aren't assuming one way or another what will happen. That being said, if we get back above the 50/55 MA on the daily, be mindful and cautious to the reaction around the 200. There is also shorter-term trades and plays that can be made off this one way or another, so feel free to take advantage of those opportunities as it fits within your style of play.
With Technical Analysis there are no certainties, and with patterns we look for rhyming - but not aren't assuming one way or another what will happen. That being said, if we get back above the 50/55 MA on the daily, be mindful and cautious to the reaction around the 200. There is also shorter-term trades and plays that can be made off this one way or another, so feel free to take advantage of those opportunities as it fits within your style of play.
Commentaire:
I highlighted these reactions with boxes and put the arrows to show the double rejection waves at the 200.