Bitcoin trading in a tight range, but reclaims 200 WMA

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.
Pricing Model: (Source: Glassnode)
Pricing Model: (Source: Glassnode)
Pricing Model: (Source: Glassnode)

Post-Bitcoin trades in a tight range but regains 200 WMA first appeared on CryptoSlate.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button