Cryptocurrency's 100-day moving average is about to cross below average
200-day mobile for the first time since May 2020. Moving averages are averages of prices over given periods that investors use to try to predict future movements.
The so-called "bearish crossover" comes weeks after the 50- and 200-day moving averages traced the "death cross", an indicator that is considered the anticipation of significant losses for an asset. Bearish crossovers of longer-duration averages often delay price action and trap traders on the wrong side of the market.
For example, bitcoin saw little downward movement after the previous bearish crossing of the 100 and 200 day moving averages in May 2020. A similar bearish crossing was observed in April 2018, October 2014 and April 2014, coinciding with the funds of intermediate prices. The one observed in November 2019 was followed by a deeper price decline.
All in all, at least Bitcoin manages to sustain above $ 30,000, which makes it still make gains compared to its price last year.
200-day mobile for the first time since May 2020. Moving averages are averages of prices over given periods that investors use to try to predict future movements.
The so-called "bearish crossover" comes weeks after the 50- and 200-day moving averages traced the "death cross", an indicator that is considered the anticipation of significant losses for an asset. Bearish crossovers of longer-duration averages often delay price action and trap traders on the wrong side of the market.
For example, bitcoin saw little downward movement after the previous bearish crossing of the 100 and 200 day moving averages in May 2020. A similar bearish crossing was observed in April 2018, October 2014 and April 2014, coinciding with the funds of intermediate prices. The one observed in November 2019 was followed by a deeper price decline.
All in all, at least Bitcoin manages to sustain above $ 30,000, which makes it still make gains compared to its price last year.