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BITCOIN Will it test the 4H MA50 or MA200?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is a quick update on Bitcoin's recent neutral price action.

BTC is clearly consolidating but this sequence is no stranger to us. We have seen this sideways structure a few times since November. The RSI on the 4H time-frame is near its 1st buy zone, which is where the 4H MA50 (blue trend-line) tends to Support Bitcoin and provide the necessary buy accumulation for a push higher. If that zone fails, the the RSI 2nd buy zone is where the 4H MA200 holds and pushes the price up. Same structure for the LMACD as well, which tests these zones after a bearish cross (red arrow). Time your buys (if you are a medium-term 4H trader) accordingly.


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Comments

30k run out of this current bull flag (happening now), then straight to 200ma for one last big consolidation before moving to 50k by 3/1
+4 Reply
airbub McGorgeous
@McGorgeous yep that’s what I’m thinking as well. I know the price action can’t be expected to follow the last bull run exactly, but May 2017 looks very similar to where we are now (testing the same fib extension on the logarithm growth curve chart)
Reply
I'm new to this and would love to know what do MA4H50 and MA4H200 mean? Thanks so much!
+3 Reply
soso1 sethmonkmail
@sethmonkmail MA = Moving Average... Its an Indicator. Period 50 & 200 on a 4hr Time Frame.. AKA MA4H50 & MA4H200..
+4 Reply
perfect πŸ‘
+3 Reply
TradingShot sami1324
@sami1324, Thank you Sami.
Reply
thank you!
+3 Reply
TradingShot hujianghua
@hujianghua, You're welcome! Thanks for the support!
Reply

MR: I think this is a very important support.
+2 Reply
Aroundthesun hujianghua
@hujianghua, Covid19 = stock market Crash = Anomaly ..?

Thanks
Reply
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