If (IF) IF Bitcoin can clear its moving averages...
There are lots of different kinds of traders/investors out there and they are looking for different criteria when it comes to entering in a position. One thing that momentum traders will be looking for is for price to clear all of its moving averages. In most cases if you are including the 200 or higher daily SMAs you also include a lot of the weekly SMAs. To be clear, you want to be above both daily and weekly SMAs (And if the chart has enough history, monthly SMAs. As the chart below shows, if we get past the mid line of the channel then we clear the weekly SMAs of note.
Getting above the weekly and daily moving averages is about as close to a early entry you can get to be one step ahead of a blue sky break on price action. The wedge gives you very technical ways to set entries as well as stop losses. The linked ideas go deeper into bullish target setting and while they are all solid ideas they don't all agree on final targets At each target will be a chance to re-assess for reversal or continuation.
Getting above the weekly and daily moving averages is about as close to a early entry you can get to be one step ahead of a blue sky break on price action. The wedge gives you very technical ways to set entries as well as stop losses. The linked ideas go deeper into bullish target setting and while they are all solid ideas they don't all agree on final targets At each target will be a chance to re-assess for reversal or continuation.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
By the way, we seem to be finding support on the 20 month SMA. No matter what btc is poised for a big move if the 20 is confirmed or rejected as support.