[BTC] Interesting long term support line worth looking at
Hi all, crypto sludge here.
With the BTC price going mainly sideways on the short term, and clearly down on the long term, i started to look at the various support levels to figure out a possible reversal point. Besides the obvious resistance points, i have found something interesting - the 128 day MA.
Turns out it served as a reversal point on numerous occasions on the 1D chart, just have a look:
It became a support line as early as 2016!
And it was the support line during our big dip early this month.
What do you guys think? Significant? i sure think so.
let me know
Trade ON!
Crypto Sludge
Nice post! I recently made a post about Ripple Please checkn it out! Liked yours and followed you so I would be very happy if you did the same!
Thank you man!
Yes, very significant, X10. Chinese New Year is soon, so I am getting ready for the gifts (dips and spikes)
You could be right, but i kinda think it's already priced in. if anything i suspect once it's over we might get a price rebound like we saw in previous years.