Bitcoin GMT~600 Tuesday, Feb 20: TA [Update-Local LOW Breaking Memo] TA
CloudConnect Crypto Studios
here to provide an early day Tuesday Bitcoin (BTCUSD) update on current market conditions, momentum, and expected support bases.Here is about a 4 month view, using moving averages to guide interpretations.
As I like to say, we can see:
- The hand of the market turning over in the middle of December
- It's inverted transformation, seemingly having come to fullness, and
- The moving averages beginning to turn back the other way: bullish.
A closer look (~2 months) at the most recent crossing, and indicator of a change in momentum:
The 1 month which shows the most recent run up since the glorious dip to right under 6k:
I have put arrows to show the crossings, which show the changing of momentum currently.
Lastly, we can see in less than 24 hours the most recent dip, shown with major support bases:
PEACE
This is not financial advice. It was written to be educational and entertaining. Any choices you make are your own. Trade at your own risk.
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