I've been looking at the 200 MA on the weekly for a while and i was curious whether it might have some information as to where we're headed. I'm getting conflicted data from the 2 charting services I use. The green line I drew myself is what's shown to have happened on the bitcoinwisdom chart of the bitfinex price. The red line is the 200 MA on the Bravenewcoin index as it appears on Trading View. I wanted to do just bitfinex, but the 200 MA on the weekly is even shorter for finex on Trading View.
So here it is. The first bull run and the first bear market. We have either been under the 200MA for about a year and a half, or we have double bottomed on it. If we take into consideration the double bottom on the 200MA on the weekly, well this is just what happened at 3k, see chart below.
So here it is. The first bull run and the first bear market. We have either been under the 200MA for about a year and a half, or we have double bottomed on it. If we take into consideration the double bottom on the 200MA on the weekly, well this is just what happened at 3k, see chart below.
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