Using the VWMA20 / SMA50 / SMA200 combination:
We are about to experience a crossover of the VWMA / SMA50 , which validates a trend reversal (Up > Down).
Previous similar crossovers have resulted in the BTC price falling into the SMA200 hard support and then subsequently the mass buying into recovery and beyond.
Historically since the availability of the SMA200 in the 1W chart, BTC has barely remained below the SMA200 zone. Hence I am hesitant to call this a bearish market.
Invalidation:
BTC must first close above 1D SMA200 (45.3k) *immediately* and start posting daily higher highs leading into the current Weekly close candle.
Most likely BTC requires at least a $10k gain (or tens of billions of $ pumping) back into 51-52k to reverse this crossover.
ETA from VWMA/SMA50 crossover >> SMA200:
Looking at past candles, guessing at a 7 days - 154 days range before the price hits the SMA200 support.
We are about to experience a crossover of the VWMA / SMA50 , which validates a trend reversal (Up > Down).
Previous similar crossovers have resulted in the BTC price falling into the SMA200 hard support and then subsequently the mass buying into recovery and beyond.
Historically since the availability of the SMA200 in the 1W chart, BTC has barely remained below the SMA200 zone. Hence I am hesitant to call this a bearish market.
Invalidation:
BTC must first close above 1D SMA200 (45.3k) *immediately* and start posting daily higher highs leading into the current Weekly close candle.
Most likely BTC requires at least a $10k gain (or tens of billions of $ pumping) back into 51-52k to reverse this crossover.
ETA from VWMA/SMA50 crossover >> SMA200:
Looking at past candles, guessing at a 7 days - 154 days range before the price hits the SMA200 support.