GBTC touches 200-day moving average

Description

⋅ Jan 20, 2021 4:34 PM

GBTC touched the 200-day Moving Average and (it appears) triggered buying if you had this set up - congrats! I didn't. :-( There is enough of a pattern now that I need to be more vigilant.

Comment

⋅ Jan 20, 2021 4:39 PM

GBTC over-reacts to BTC price movement in each of these examples (red arrows) as GBTC crosses the 20-day MA, more downside to follow. When GBTC touches the 200-day MA, upside likely to follow.

Comment

⋅ Jan 21, 2021 4:56 PM

As whatsthismean points out - this chart shows the 200-HOUR moving average (based on the chart increment).

Support and Resistance

Comments

whatsthismean

⋅ Jan 21, 2021 4:49 PM

That's the 200-hour moving average, if you have the chart set to hourly. The 200-day moving average is 18.3 at the moment.

chillcrypto

⋅ Jan 21, 2021 4:52 PM

@whatsthismean, Ha ha ah! Yes of course now that you say that. Thank you.

whatsthismean

⋅ Jan 21, 2021 4:56 PM

@conradkz, You got it, keep up the good work. Looking for a buy on that 200day MA, that's the buy point on BTC bull runs. Didn't want you to miss out!