The Most Important Moving Average Period is probably week. AS you can see, In the recent year, MA20 and MA50 influenced trend price. BTC is above the MA200 , That is ok. MA50 and MA100 are close to each other, then we can focus on the MA50 Look! BTC is below the MA20 but very close to cross up the MA20.
IF BTC cross up 4060 USD in the end of this week then the big trend might be changed. That is not all. There is Ma50. IF BTC cross up Ma50 with high volume too, the bullish trend will come.
A true market reversal can only occur after a strong weekly capitulation candle on very high volume. We haven't seen this yet.
Also, not that the weekly MAs that are support, are increasing in every bearmarket.
In 2011, MA100 was support, MA50 broken. In 2014, MA100 was broken, MA200 was support.
I am pretty sure that this time, MA200 will be broken, MA300 will be support around 2500 USD.
TraderMikabot
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@FlaviusTodorius67, :)
SebastianofMoon
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@muikka, Yeah, I was wrong XD This market reversed without a capitulation. Weird, but that's bitcoin. One has to love it!
Crypto_Mercy
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I'm prettty confident will take out the MA 20 below soon.
Also, not that the weekly MAs that are support, are increasing in every bearmarket.
In 2011, MA100 was support, MA50 broken. In 2014, MA100 was broken, MA200 was support.
I am pretty sure that this time, MA200 will be broken, MA300 will be support around 2500 USD.