Zoom out - the 2019 bear market could be similar if this is accumulation.
Bitcoin quickly approaches the 50 Week Moving Average that held down Bitcoin back in 2015. While many call for a $6k retest, this MA along with prior horizontal resistance could hold down Bitcoin for the time being.
Will be interested in seeing if the 200 Week MA acts as support if Bitcoin is rejected off the 50 MA.
Currently, could range in this area (neutral for Bitcoin) but good for accumulation purposes for anyone who missed out in the $3k to $4k range.
Bitcoin quickly approaches the 50 Week Moving Average that held down Bitcoin back in 2015. While many call for a $6k retest, this MA along with prior horizontal resistance could hold down Bitcoin for the time being.
Will be interested in seeing if the 200 Week MA acts as support if Bitcoin is rejected off the 50 MA.
Currently, could range in this area (neutral for Bitcoin) but good for accumulation purposes for anyone who missed out in the $3k to $4k range.