50DMA: Bitcoin Price Facing Dangerous Retest Of Moving Average

2019-11-14 21:00

The leading crypto asset by market cap, Bitcoin, has had a confusing year thus far. The cryptocurrency started the year at extreme lows but later exploded back up 350% to $14,000, before falling nearly 50% down to $7,300.

The asset’s third-largest 24-hour gain brought the crypto asset back through the 200-day and 50-day moving average, but was rejected above $10,000 and is once again in free-fall mode. The drop has taken Bitcoin back down to the 50DMA, where the asset is currently retesting it as support – something that one crypto analyst says is very dangerous.

Bitcoin Price At An Impasse: Bull or Bear Market Soon To Be Decided

Bitcoin is at a critical junction, and is either correcting from a strong rally before going on a full bull run or is about to enter the next phase of the bear market. The days ahead will determine the trend for the coming months, as the asset inches closer to its halving.

Related Reading | Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs 

The price action has been difficult to gauge which side the market is leaning – bullish or bearish. A breakdown from a massive, multi-month symmetrical triangle turned the market bearish, but a powerful news-driven rally following Chinese President Xi Jinping’s nod of support for blockchain technology caused the asset’s price to surge, causing an epic short squeeze and setting a record for the asset’s third largest one day gain.

The explosive move took Bitcoin back above the 200-day moving average, as well as the 50-day moving average – two moving averages that recently death crossed.

But that powerful spike may have only been a bearish retest of former support turned resistance, and Bitcoin is once again falling, breaking back below the 200DMA, and is now facing a “dangerous” retest of the 50DMA.

50DMA:
bitcoin has been above it during the whole rally,
went below it when crashed and then above soon.
Now it is testing it again and again. Dangerous. $BTC $BTCUSD #bitcoin pic.twitter.com/La4XNGEUvH

— CryptoHamster (@CryptoHamsterIO) November 14, 2019

Danger: 50-Day Moving Average Must Hold as Support

According to a chart shared by one crypto analyst, Bitcoin was above the 50DMA throughout the entire 2019 rally, until it began to correct, and the asset fell below – but traded closely to it. It wasn’t until September when Bakkt launched to much disappointment, where a sell the news event drove the price of Bitcoin down to the low $8,000 range.

Bitcoin is now back in the $8,000 range, where it is retesting the 50DMA as support. If it fails to hold as support and breaks down below it, it could be a long time before the first-ever cryptocurrency resumes its uptrend and gets back above it and the other critical moving average, the 200DMA.

Related Reading | Crypto Market Death Cross Inches Closer, Will The Bear Market Return?

In October, the two moving averages crossed one another, forming what’s called a death cross, signaling to investors and traders that the crypto-asset would likely see continued downside. Analysts argue that the China news-driven rally was really just coincidental timing of a whale taking advantage of an overly bearish market, and causing a violent short squeeze.

The post 50DMA: Bitcoin Price Facing Dangerous Retest Of Moving Average appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98053.78 (+0.58%)
Объем 24H $99.605b
Изменеия 24h: 4.03 %, 7d: 9.53 %
Cегодня L: $94006.77 - H: $98156.69
Капитализация $1940.043b Rank 1
Цена в час новости $ 8625.52 (1036.79%)

moving average bitcoin asset back 50dma year

Источник: newsbtc.com

moving average → Результатов: 126


Aave Declines, Vitals Levels To Keep An Eye On

Aave Price noted a fresh decline on the daily chart as the coin slipped below the $80 price zone. Over the last 24 hours, the altcoin traveled south and lost 4. 2% of its value. As anticipated, after the altcoin formed a death cross, where the long-term moving average crossed (200-Simple Moving Average) above the short-term moving average (50-Simple Moving Average), the altcoin registered another significant fall in price.

2023-3-1 02:00


DigiByte (DGB) Technical Analysis #001 – DGB Sitting on 100 Day Moving Average Support

DigiByte has experienced a 4.38% drop over the past 24 hours of trading. The cryptocurrency is currently trading at $0.0354 and has suffered a further 10.11% over the last 7 trading days. DigiByte was founded in January 2014 by Jared Tate and has experienced incredible technical growth over its 4 and a half year life […] The post DigiByte (DGB) Technical Analysis #001 – DGB Sitting on 100 Day Moving Average Support appeared first on ZyCrypto.

2018-8-3 00:51


Фото:

Bitcoin is eyeing change of fortunes above $6,800, having convincingly scaled a key moving average hurdle earlier today. At press time, is changing hands at a six-day high of $6,600 on Bitfinex – up 3.44 percent on the day.

At press time, BTC is changing hands at a six-day high of $6,600 on Bitfinex – up 3.44 percent on the day. For instance, prices rose above $6,300 on Saturday, but trading volumes fell to $2.92 billion, the lowest level since November 7, according to CoinMarketCap. However, the solid move above the 20-day moving average

2018-7-16 19:39


Ripple (XRP) – A two week Technical Analysis

Here, we are looking at a technical analysis of Ripple (XRP) with a nine-day window – May 30 to June 6, 2018. In this analysis, we apply indicators such as Bollinger Bands, the famous Moving Average Convergence-Divergence (MACD) oscillator and the Relative Strength Index (RSI).

2018-6-11 21:18

дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price: Tightening Technicals Signal Big Move

Bitcoin price has spent another day trading within its range-bound channel at around $8,200. The sideways action has been going on for almost a month now and technical indicators are starting to align with a signal for the next big move.

Bitcoin Price “Death Cross” 10 Days Out as BTC Stagnates at $8,000

While mere days ago analysts were calling for Bitcoin (BTC) to correct higher to $9,000 and potentially even higher, this bullish scenario has not panned out. On the contrary, in fact. Since the weekend, the leading cryptocurrency has returned to $8,000 and has even started to flirt with the $7,000s once again.