Can Bitcoin stay above the 200 week moving average?

2년 전

200 week ma.jpg

I saw people mentioning that Bitcoin hasn't closed below the 200 week moving average in other bear markets. I couldn't find a decent chart, so I made my own, using a logarithmic scale. Then yesterday, there was a bounce off the 200 week moving average. This is actually a 1400 day moving average, I'll have to work on a weekly chart but it gives an idea of where the line is. I also need more data, as I don't have enough to see what happened in the last bear market.

I hope there isn't a close below the 200 week moving average, as this bear market is getting boring. There could be a large move through this line but then hopefully it will reverse within the week and close above it. If there is a weekly close below it, this bear market could still have a long way to go. This isn't trading advice, just my observations.

Edit, found a good chart to keep an eye on this https://www.barchart.com/shared-chart/%5EBTCUSD?chart_url=i_1545214948_1464784760&page_url=%2Fcrypto%2Fquotes%2F%5EBTCUSD%2Finteractive-chart%3Fid%3D935914

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending


You just planted 0.07 tree(s)!


Thanks to @wayoutwest

We have planted already
5480.58 trees
out of 1,000,000


Let's save and restore Abongphen Highland Forest
in Cameroonian village Kedjom-Keku!
Plant trees with @treeplanter and get paid for it!
My Steem Power = 31960.67
Thanks a lot!
@martin.mikes coordinator of @kedjom-keku
treeplantermessage_ok.png