Although BTC held the $6000 support for almost of all of 2018, five weeks ago it did eventually fall and saw us tumble down. Many have tried to predict "the bottom" since then, but there is one essential indicator which is heavily respected by the market and something you should include (among other indicators) when making such predictions in your own strategy: the Weekly 200 Moving Average.
As you can see on the chart here, despite a rather rapid fall, we have just bounced perfectly off the weekly 200MA (the red line). If you had known this, it might well have provided a precise exit/entry point on your trades = more profits in BTC and altcoins such as XRP, ETH, EOS and ADA.
Now personally I believe this to be a dead cat bounce, which will take us up briefly over the coming days/weeks, before eventually dumping us back down, this time quite possibly below the weekly 200MA - although it will put up resistance and so is something you should include in your collection of trading tools.
I've provided a link below (see "Related Ideas" for the 50, 100, 200 Moving Average), so give it a try and add to your favourites if you want a powerful indicator in your arsenal.
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
As you can see on the chart here, despite a rather rapid fall, we have just bounced perfectly off the weekly 200MA (the red line). If you had known this, it might well have provided a precise exit/entry point on your trades = more profits in BTC and altcoins such as XRP, ETH, EOS and ADA.
Now personally I believe this to be a dead cat bounce, which will take us up briefly over the coming days/weeks, before eventually dumping us back down, this time quite possibly below the weekly 200MA - although it will put up resistance and so is something you should include in your collection of trading tools.
I've provided a link below (see "Related Ideas" for the 50, 100, 200 Moving Average), so give it a try and add to your favourites if you want a powerful indicator in your arsenal.
Please give me a thumbs up and follow me if you found my analysis interesting.
This is for educational purposes only and not a recommendation to buy or sell.
