50 day moving average holds yet again

in bitcoin •  10 months ago

Made a few posts recently about bitcoin and specifically the 50 day moving average.

post 1

post 2

post 3

Well it seems to of done it again.

Positive spin

It is consolidating with a strong support at the 50 day avg.

Negative spin

It doesn't have the strength to make a full bounce off the line, and will fail to even hold it soon.

My thoughts

I am leaning towards the positive spin and that it is good news that we have a strong base to work off. Because it is clear that a lot of pressure is building around this 50 day line.

That strong base could be used when the pressure finally breaks, propelling us up to test the ATM.

I bought the last 2 50 day touches but wouldn't be this one. My plan is still to sell my small position around 19K and buy back in big once/if 20k is broken.

Thanks for reading.

KevinBacon





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Excelente, pienso que pronto va haber una buena tendencia al alza, este 2018 va ser un buen año para las criptomonedas por lo menos eso es lo que yo espero.

how do you think or your prediction about bitcoin price in 2018 whether it will be increasing or going down.
I just want to survey some people's opinions