Bitcoin close to 200 week moving average. Is this a significant level?

in #bitcoin • 5 years ago

Here's the current weekly BTC chart, with a 200 week moving average. As you can see, its very close now.
btc 200.jpg

This might be significant because BTC has found strong support on the 200 weekly MA before. Look at this chart, after the last big crash in January 2015. This was the end of that bear market and BTC went on to new highs. It might not happen like this again but it might be significant.
BTC 15.jpg

#price #chart #technical #analysis
5 years ago in #bitcoin by
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     5 years ago 

    This is indeed a important level for us. Might be as well the reason for this sudden 10% bounce.

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