Exponential Moving Average Tutorial / Best settings for Bitcoin Trading

Contents

Bitcoin: moving average will determine the trend vector
CONTENT

  • Bitcoin Needs Close Above 800 Hour Moving Average.

  • The price has been under this MA since February 25.

  • If the close is successful, the next target will be $ 8000.

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Bitcoin has been growing since early April, having already strengthened by more than 10%.

Bitcoin: moving average will determine the trend vector

However, the rally stalled after hitting an important moving average, which serves as a reliable indicator of trend direction for the rest of the year..

Well-known trader @ pierre_crypt0 marks an 800-hour moving average on the bitcoin chart. In his opinion, the dynamics of the cryptocurrency in relation to this MA will help determine the direction of the trend. A close above the moving average would mean that the situation is under the control of the bulls, and vice versa.

One hour to go for bulls to reclaim H4 200 EMA, still running the show here.

FYI last time we reclaimed it was on Jan 5th, and only lost it on Feb 25th

Would be an encouraging sign for bulls, but still a lot of fight to win this area.

Bitcoin: moving average will determine the trend vector

I guess another crazy day for us. # Bitcoin https://t.co/kHlnSAo6AP pic.twitter.com/7JgT2Zsxap

– Pierre (@ pierre_crypt0) April 3, 2020

Can BTC close above the moving average? Below we will try to answer this question..

Moving average

At the time of writing, Bitcoin is hovering above the 800-hour MA. In addition, the price exceeded the $ 6,850 mark, although it subsequently rolled back – for a clearer signal, a confident breakout of this resistance is needed, which should turn into support.

In case of a close above this mark and the moving average, we will get a clear bullish signal regarding the future trend.

Bitcoin: moving average will determine the trend vector

 However, it is possible that the cryptocurrency will still retreat, and the bullish plan will not be implemented. At the same time, there are no signals of bearish divergence on the charts..

Previous dynamics

If we analyze the behavior of the token relative to the same MA since the beginning of the year, it becomes obvious that the moving average serves as a reliable indicator of the trend direction. The price exceeded this level on January 3, after which an upward movement began, which led to an annual high in the region of $ 10,500. Then the quotes moved down and touched MA again on February 19, meeting support and showing a rebound. On February 25, Bitcoin dropped below MA and reached it in April.

If it closes above MA, the price could rise to $ 8000. Otherwise, it is expected to move towards $ 6000 support.

So, Bitcoin has reached its 800-week moving average, which serves as a reliable indicator of the trend direction this year..

Bitcoin: moving average will determine the trend vector

A close above this level will signal that the price is heading towards the $ 8000 mark, while if it fails, the cryptocurrency may go to the $ 6000 support.

Disclaimer

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