๐โUnprecedented MA Convergence: Critical Moment for Bitcoin ๐โก
BTC/USD 1-month:
A truly eye-opening picture and perhaps a sobering one. This convergence of absolutely key MAs has never been witnessed on Bitcoin before. It's make or break time.
The 20-month moving average has never crossed the 50-month. Currently they are only two hundred dollars apart (!). That is a serious death cross setup.
Also the classic 50D/200D death cross is lining up and also two hundred dollars apart ๐ค This daily cross, however, has a high chance of being retested on a spike where the MAs meet (50/200D โ we will keep you updated on it shortly).
โIt's truly 50-week MA has to hold being the last true area to create support. We lose thatโฆ my goal is 111 MA on monthly.โ โ John from EXMO Study
Legend for chart:
50D MA = light blue, 200D MA = dark blue
20M MA = grey, 50M MA = black
111M MA = red (distribution channel)
A truly eye-opening picture and perhaps a sobering one. This convergence of absolutely key MAs has never been witnessed on Bitcoin before. It's make or break time.
The 20-month moving average has never crossed the 50-month. Currently they are only two hundred dollars apart (!). That is a serious death cross setup.
Also the classic 50D/200D death cross is lining up and also two hundred dollars apart ๐ค This daily cross, however, has a high chance of being retested on a spike where the MAs meet (50/200D โ we will keep you updated on it shortly).
โIt's truly 50-week MA has to hold being the last true area to create support. We lose thatโฆ my goal is 111 MA on monthly.โ โ John from EXMO Study
Legend for chart:
50D MA = light blue, 200D MA = dark blue
20M MA = grey, 50M MA = black
111M MA = red (distribution channel)