techish

BTCUSD Significance of EMA 200

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
This idea is about why EMA 200 is important for $BTC to maintain its uptrend on daily chart .

$BTC price went below EMA 200 yesterday but managed to close just above it. Today price is staying mostly below it but if it manages to close above that would keep the uptrend intact based on EMA 200.

Significance of 200 EMA:

  • 13th October 2015: First major crossover towards upside
  • 2nd August 2016: Went below for two consecutive days on Bitfinex hack but closed above EMA 200.
  • 12th January 207: Bounced above 200 EMA
  • March 25th 2017: Bounced from EMA 200
  • April 15th 2017: Crashed below EMA 200 but close far far above it
  • July 16th 2017: Bounced before touching EMA 200

See the pictures below









Comment: Chances are we have seen the bottom (7500) at least in the short terms, there is every chance we close above EMA 200 today
Comment: $BTC price flirting around EMA 200 line, RSI oversold, positive vibes

Comment:
Comment: $BTC breached 200 EMA but here's another chart where $BTC is staying above MA 200, Falling Wedge and ABDDE pattern formed, signals are that $BTC gonna reverse from here, at least for the short term.

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