Bitcoin at 300 DMA

BITSTAMP:BTCUSD   Bitcoin / Dollar
Critical level, if it manages to hold it, a bull market may ensue.
A little flaw.... Hardly anyone is looking at 300 DMA, aside from 7,14,50,200.
I dont think its valid, the breakout is already there.
+1 Reply
Yobears LastBattle
We shall see :)
aziz92 LastBattle
Exactly. 300 DMA? What's next? 546 DMA? 933 DMA? There will always be some DMA that price is about to break.
Yobears aziz92
50, 100, 200, 300 are the only important ones on the 1D level. Most TA doesnt go beyond that.
I disagree wholeheartedly.

I believe this is precisely where the best get their edge on the market, when it comes to moving averages.

Take a look at the 1600 simple moving average and tell me price doesn't react to it. The 1600 with price channel envelope is one of my most useful and dependable long-term trading systems and gives way bigger gains than say a 50 SMA price channel.

+1 Reply
JamesBrown PRO JamesBrown
The biggest 4-hour bar for bitcoin in the last three months didn't happen on the 1600 SMA (4-hour chart) breakout by coincidence.

I've seen the same situation over a hundred times from currency pairs, to commodities, to stocks. It's a powerful moving average that has a strong effect on the market
JamesBrown PRO JamesBrown
Same with the 400 and the 800...and probably even the 3200, but I've never had a charting system that can calculate back that far.
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