Bitcoin and the 200w moving average
There are a lot of trash analysts out there that claim that bitcoin has never closed a whole weekly candle body below the 200-week moving average and they are using that lie combined with the fact that bitcoin is now under the 200-week moving average to create fear, uncertainty and doubt. Other trash analysists hear the lie and repeat it without verifying for themselves the truthfulness of the statement.
The chart on the left clearly shows we had multiple candle bodies below the 200-week moving average late 2015 and that lead it is common knowledge that price ran up to over $19,000.
Bitcoin is in the zone for accumulation for many different kinds of traders. My linked ideas will go over different signals for investors to accumulate. If you want more certainty one simple moving average strategy would be to buy bitcoin when the price gets above the 200-week moving average again. I am not going to go into all of the moving average plays, but there is also looking for a daily golden cross of the 50 and 200 week, but that won't be for a while.
The chart below shows that from the high in 2013 to the low of 2015 price reached the 2.414 fib target. As I see it we are still looking to reach a target above the 2 level on the fib draw from the high in 2017 to the low in 2018. It makes sense to book some profits at each 2 level and once price slips back under the 20 week and price treats it as resistance just admit that the run is over.
I have a few preferred alts I am buying. ETHE is still at a discount, and I expect to sell it when the premium is over 5 or 6x.
The chart on the left clearly shows we had multiple candle bodies below the 200-week moving average late 2015 and that lead it is common knowledge that price ran up to over $19,000.
Bitcoin is in the zone for accumulation for many different kinds of traders. My linked ideas will go over different signals for investors to accumulate. If you want more certainty one simple moving average strategy would be to buy bitcoin when the price gets above the 200-week moving average again. I am not going to go into all of the moving average plays, but there is also looking for a daily golden cross of the 50 and 200 week, but that won't be for a while.
The chart below shows that from the high in 2013 to the low of 2015 price reached the 2.414 fib target. As I see it we are still looking to reach a target above the 2 level on the fib draw from the high in 2017 to the low in 2018. It makes sense to book some profits at each 2 level and once price slips back under the 20 week and price treats it as resistance just admit that the run is over.
I have a few preferred alts I am buying. ETHE is still at a discount, and I expect to sell it when the premium is over 5 or 6x.
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