🔥 Bitcoin & The 50-Day SMA: 77% Win-Rate Indicator!
I rarely look at moving averages because they are often lagging indicators and tell only a part of the story. However, I noticed that de 50-day SMA has proven to be a very worthwhile indicator to watch.
Since late April, the 50-day SMA has offered a lot of support and resistance for Bitcoin's price, see the yellow areas.
In 10 of of the last 13 touches, the price reversed from the 50-day SMA. This means that, since April '23, there's a 77% probability that the price will reverse from that specific SMA.
I assume that the indicator will lose this trading edge over time, but for now I'm definitely keeping it on my chart. If BTC's price were to reverse back up from here, I will likely consider a scalp-entry from the 50-day SMA's resistance.
Since late April, the 50-day SMA has offered a lot of support and resistance for Bitcoin's price, see the yellow areas.
In 10 of of the last 13 touches, the price reversed from the 50-day SMA. This means that, since April '23, there's a 77% probability that the price will reverse from that specific SMA.
I assume that the indicator will lose this trading edge over time, but for now I'm definitely keeping it on my chart. If BTC's price were to reverse back up from here, I will likely consider a scalp-entry from the 50-day SMA's resistance.
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