The last time the CC SMA 50 turned green on the daily, BTC went up 54% over 45 days. This implies a price target of around 65K and could act as a very significant area of interest of either a triple top or continuation to a blowoff top... or more consolidation depending on some key catalysts in the months ahead (SEC approves Spot BTC ETF, more countries legalizing crypto, Inflation abating naturally w/out Fed Hiking, etc).
And I understand I am posting this prior to tomorrow's CPI print for January (Year over Year comparison). If you recall there were several states in or entering some sort of lockdown so I expect the year over year comparison to come in high. The expectation is 5.9%... but it would be nice to see a slight miss to the downside as this is entirely driven by base year effects and supply chain issues and nothing in relation to demand side imho. The Month over Month effect (Jan 2022 over Dec 2021) could be more telling and if inflation is slowing more quickly which I expect to be the case, then this could cause risk assets to rise in value since this would create the expectation that the Fed does not have to act as quickly as once thought if inflation is abating on its own without help of Fed. We shall see.... regardless TA has the ingredients to perform well over next 1.5 months.
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Also, the most recent time, after BTC was in a clear uptrend, BTC moved up nearly 56%:
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Also after the March 2020 Corona dump... when CC SMA 50 turned green... you guessed it - another 57% up move:
hi can you please help me with this and tell me which price is the pivot point in here
K1LLTHEPAJ33TS
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thanks for the sell signal
ich1baN
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@K1LLTHEPAJ33TS, it's a longer term signal. Price can move down shorter term but institutional flows are very clearly coming into crypto broadly... a good signal of continuation: