rambobike

50D SMA acting as support for BTC

Long
COINBASE:BTCUSD   Bitcoin
The 50-day SMA (the orange line on this 4-Hr chart) had been acting as resistance for 6 months until BTC smashed through to the upside on 6 Jan 2019. Even with the $250 dump on 10 Jan, the 50D may turn to support, along with the shallower ascending trendline (yellow) connecting the local lows of 18 & 28 Dec 2018, and 1 Jan 2019.

If this doesn't hold, the next support may be around $3600 (steeper of the descending yellow trendline).
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.