Something a bit shorter today. No reason every day has to be a novel!
Is it a bull market? Is it a bear market? Up or down? Green or red? These are the questions everyone asks and if anyone honestly knew with even a shred of accuracy, they would be so filthy rich it’s silly to think about.
50 EMA and 200 EMA
The 50 EMA and 200 EMA are popular indicators. They are just a weighted average of the last 50 candles with a bit more weight put on more recent prices. Same for the 200 EMA but for the last 200 candles.
What do these two indicators tell us about the possible direction of the Bitcoin price? Well with any indicator, guarantees are not a thing. This is not financial advice, do your own research. Here we are looking at what happens to Bitcoin price movement when the 50 day and the 200 day EMA’s cross.
2015
In 2015 we had the 50 day EMA come up and touch the 200 day EMA, just a little kiss… a wave hello! The price took a large downward move.
2019
In 2019, the 50 day EMA did not even say hello as it blast past the 200 day EMA and Bitcoin saw a substantial price run
2023
Now we fast forward to today’s chart. That 50 day EMA has come right up to the 200 EMA but the angle of approach is too shallow, I don’t think it will cross and if we use this as a form of indicator, we are going to have more downside movement.
How much downside? No one knows that either but I have a strong suspicion that $10k — $12k COULD be on the cards.
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