Historically BTC typically produces a strong bounce in response to an encounter with the 100 daily MA. Well, with the correction from the recent market climax it blew right past the 100MA and has now touched the 200 MA for the first time since the Great Flash Crash of 27 May, 2017 (yep, that seems like years ago). And you have to go back almost another year to find the next time it occurred.
On top of this it seems likely that the C -wave of the recent correction is nearing completion, having just passed the 0.786 fib retracement of the previous run up.
Savvy investors and industry professionals use the 100 and 200 MAs as buy signals and we should too.
Remember: Buy when everyone's selling and sell when everyone's buying!
The first leg up is likely to top out at around the $10K mark. If the bulls show up on the pull back then it should be a rocket up to $12K shortly thereafter for a total 55% increase from it's current level ($7700 at time of writing).
Good luck, and if you agree, disagree or have something to add, please leave a comment!
On top of this it seems likely that the C -wave of the recent correction is nearing completion, having just passed the 0.786 fib retracement of the previous run up.
Savvy investors and industry professionals use the 100 and 200 MAs as buy signals and we should too.
Remember: Buy when everyone's selling and sell when everyone's buying!
The first leg up is likely to top out at around the $10K mark. If the bulls show up on the pull back then it should be a rocket up to $12K shortly thereafter for a total 55% increase from it's current level ($7700 at time of writing).
Good luck, and if you agree, disagree or have something to add, please leave a comment!
