Bitcoin And The 55 Week Moving Average

There's still a couple days yet before the end of the week but Bitcoin and the 55 week moving average have a relationship that goes back a few years.

• The weekly chart simple support and resistance with the 55 week moving average.

• Then a couple 60 minute charts, I didn't put the count in but it's a broader ABC indicating a corrective wave. You can see the triangle formation between March 27th and 29th, A triangle can only be either a B wave in a corrective or wave 4 in an impulse. The price looks to be capitulating....... A little early to tell yet.

• Then there's the chart with volume. We're back to the volume prior to the blow off.

• The last chart is Litecoin and is in sync as far as other cryptos go, at the same moving average area.

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