quick take
- Bitcoin is currently It trades between 111DMA ($26,900) and 200WMA ($26,400).
- According to Glassnode,
- The 111-day Simple Moving Average can be used within the Pi-Top Oscillator to capture short to medium term market momentum.
- The 200-Week Simple Moving Average (200WMA) provides a tool to capture the baseline momentum of the classic four-year Bitcoin cycle.
- A similar setup occurred in 2015, as shown in the second graph.
- Bitcoin Temporarily Drops During Both Cycles 200 WMA or less.
- Bitcoin is now back at 200 WMA and testing 111 DMA.
Post-Bitcoin trades in a tight range but regains 200 WMA first appeared on CryptoSlate.
