The 200 Periods Moving Average is undeniably one of the most significant averages that one could follow. We at Bitbloxx made an interesting observation on BTC/USD Weekly (Bitstamp) chart, i,e. near perfect double test of 200MA on the weekly chart. Now we also noticed a similar test around the foothills (June & Aug 2015) of the mega Parabolic curve that ended in Dec 2017. Interesting, isn't it? Let us know what you think. :)
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Some up-tick in price from the identified region. Sustainable or not, only time will tell. :)
That is indeed an interesting observation... infact last time, it also tested twice during same time period
However, 2 full candles below this means we say good bye to bull market for atleast 18 months
Bitbloxx
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Hello @a.rafay, we completely agree with you. To further add to it, we could be looking at another ~30% depreciation in case of a breach and close below the 200MA (Weekly).
FutureThinker
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So what do you see the outcome now looking like? Test 200 SMA again? I think we take another ride up to test 10,500 if not, back down to 8000k
Michele1970
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The 12 and 26 is all you need to follow fish
Michele1970
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Who the hell charts on 200 weekly MA lmfao
gitbtc
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@Michele1970, 200 week MA is actually a very good support line. If you don't get it, you should try to learn instead of acting Dunning Kruger.
Boon2
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BTCUSD H4 Correction up. Checkout the idea detail's and all the update's for the complete picture.
BTCUSD D1 Long Term EW Analysis. Checkout the idea detail's and all the update's for the complete picture.
However, 2 full candles below this means we say good bye to bull market for atleast 18 months