Bitcoin (BTC / USD) Target Down or Up - Mobile Lines Analysis

작년

The price of bitcoin has started to go up, it has not yet broken the resistance of $ 11000 and we will see possible upward targets or going down the price

Today I will do an analysis of the crosses of the Mobile Lines of 21 periods and 50 periods weekly

Let's see

Captura de pantalla 2020-10-05 a las 10.51.39 a.m..png

Sometimes you have to see what happened in the past to estimate what might happen with the price.

What has happened in these last weeks

As we will see in the graph, the price of Bitcoin has been maintained for months by an upward trend above the mean line of 21 periods weekly chart

Captura de pantalla 2020-10-05 a las 11.21.31 a.m..png

It is natural that when this happens, the price is lateralized for a time or some correction occurs. As it has done in the last months

Analysis of the Weekly Golden Crosses from the 21-period MA midline to the 50-period MA

If we see in the graph the crossing of the lines, they have indicated the beginning of bullish cycles or correction

Captura de pantalla 2020-10-05 a las 10.51.39 a.m..png

  • We can see crosses on the rise in the years 2012, 2015, 2019

  • We can see crosses to the downside in the year 2014, 2018, 2020

Captura de pantalla 2020-10-05 a las 10.57.27 a.m..png

In August we saw a new cross, upward, from the line of 21 to the 50-period Weekly Chart.

Other Keys

  • The price in the last weeks has tested the MA line of 21 periods but has not broken it (good sign)

  • As we can see in the graph, the means are ordered first the MA of 21 after the MA 50, then the 150 and the 200 periods

Captura de pantalla 2020-10-05 a las 11.14.25 a.m..png

Conclusion

That the cross has occurred months ago and the price remains above the 21-period MA are 2 good signs that it may be that we are starting the bullish cycle of Bitcoin as it has already done in 2012 and 2015, which led to Bticoin to new highs.

Lately we see more bullish indicators, than those that indicate a correction

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Protect your assets use Stop loss

The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.

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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.

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