BTC: The 200MA Twist
A 200MA is the average of the last 200 candles.
Which means, after a top, it will take ~200 candles (give or take a few according to how much the price has diverged form the MA) for the higher prices to start disappearing from the rolling average.
If within that period the price fails to go above and hold the MA, the MA will inescapebly twist down. This is what happened back in 2014.
We still have ~40 days to go above the MA and hold that level. If that happens and the twist is prevented (or remains relatively flat), it would signal the end of the very strong correction, and a probably bullish 2018.
If we fail to hold above it, we are a looking at much different scenario with much lower price targets and another long "real" bear market.
Pay close attention to how the next 40-50 days play out (and also where the broader economy and stock markets stand by that point).
2014:
Now:
Which means, after a top, it will take ~200 candles (give or take a few according to how much the price has diverged form the MA) for the higher prices to start disappearing from the rolling average.
If within that period the price fails to go above and hold the MA, the MA will inescapebly twist down. This is what happened back in 2014.
We still have ~40 days to go above the MA and hold that level. If that happens and the twist is prevented (or remains relatively flat), it would signal the end of the very strong correction, and a probably bullish 2018.
If we fail to hold above it, we are a looking at much different scenario with much lower price targets and another long "real" bear market.
Pay close attention to how the next 40-50 days play out (and also where the broader economy and stock markets stand by that point).
2014:
Now:
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