So now that we've pierced, and stayed below the red 200 SMA - is that all for the bull run? Does Bitcoin now grind its way back down to $12k?
Or do you think Bitcoin could recover the 200 SMA, and head even higher, later this year?
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The purple arrows on the chart indicate Bitcoin halving dates.
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Coin Metrics:
The most recent price of BTC at the time of writing is: $35624.33.
The 200 Simple Moving Average (SMA) is at: $42239.73.
The percentage distance from the latest BTC price and the 200 SMA is: -16.0%.
A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further.
Average Candle Height (ACH) for BTC: 5.88%.
Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like XVS can have 15% ACH or more.
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Happy trading, folks! Please like and follow if you'd like to see more of my content :)
Or do you think Bitcoin could recover the 200 SMA, and head even higher, later this year?
---
The purple arrows on the chart indicate Bitcoin halving dates.
---
Coin Metrics:
The most recent price of BTC at the time of writing is: $35624.33.
The 200 Simple Moving Average (SMA) is at: $42239.73.
The percentage distance from the latest BTC price and the 200 SMA is: -16.0%.
A coin which has a price less than its 200 SMA is less costly on average than at any other time, and so this might be a good time to buy. Beware though that this may also be a part of a bearish trend, where the price might drop even further.
Average Candle Height (ACH) for BTC: 5.88%.
Average Candle Height is calculated as the average height of all candles (high - low) as a percentage of the high price. Bitcoin typically has about 5% ACH, while large market cap coins like Litecoin have around 8% ACH. Exceptionally volatile coins like XVS can have 15% ACH or more.
---------------
Happy trading, folks! Please like and follow if you'd like to see more of my content :)