Mind The Gap! Watching Bitcoin Moving Average Gap
Bitcoin has now sustained 32 days above $10,000 USD since its move through the $10K ceiling. This is good progress for Bitcoin to win hearts and minds as the last time we sat above this level for this long was during the 2017 parabolic bull run.
Apart from that positive note, BTC has looked stagnant the past few weeks now sitting below $12K.
Rightly so, there is a lot of sell pressure at that level and above ($12K).
As we sit under $12K we are watching the moving averages and watching out for a bearish crossover. It hasn't happened yet, but we've noticed the gap is closing / shrinking steadily at around $100 dollars per day.
The gap is now at about $856 USD. At current rates and if nothing changes we expect a cross would happen in about 8 to 9 days from now. If this happens, get ready for the pullback and opportunity to accumulate a bit more before we go back up!
Keep watching the charts! 📈
Please note : this is opinion and should not be taken as financial advice.