This is very basic stuff, but people need to see the greater picture and especially the HODL'ers. Furthermore, the past doesn't necessarily predict the future, but you can definitely see a pattern here. When BTC is above the 50, 100, & 200 day moving averages BTC is essentially bullish. We have bounced off the Green 50 Day Moving Average and are about to close a second 1 day candle above all three moving averages again. This should insight Bullish price action again until we retest them again. I wouldn't worry too much about price action until we start testing the 200 Day Moving Average again, but that might be along time as you can tell in the chart. The fact we bounced off the Green 50 Day moving average is telling me that there is still lots of upwards momentum left as we didn't even fall to the 200 Day Moving Average. Lastly, you can also see the arrows pointing to how many times BTC has bounced off the moving averages in the past after its Golden Crosses from its respective bear markets. Hopefully this gives people a piece of mind during the next 20-40% correction. Cheers!
Red = 100 Day Moving Average
Green = 50 Day Moving Average
Blue = 200 Day Moving Average
Red = 100 Day Moving Average
Green = 50 Day Moving Average
Blue = 200 Day Moving Average