dennisdaiber

BTC/USD 50 & 100-day MA cross

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
On a weekly timeframe there is an important event worth noting, 50-day moving average crossed above 100-day moving average. Last time this occurred in May 2016 and resulted in 950% price increase. This could have been an immensely bullish sign, if not for bearish divergence on a weekly RSI , that suggests the opposite in the longer term. Moreover, according to weekly EMA ribbon, we are still in a bear market and BTC would require a lot of strength to break above it.
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