2023-6-20 14:00 |
Quick Take Bitcoin trades between 111DMA ($26.9k) and 200 WMA ($26.4k). According to Glassnode: The 111-Day Simple Moving Average, when used within the Pi-Top Oscillator, captures short-mid term market momentum. The 200-Week Simple Moving Average (200WMA) provides a tool for capturing the baseline momentum of a classic 4-year Bitcoin Cycle. A similar setup occurred in 2015, as shown in the second chart. Both cycles saw Bitcoin briefly fall below the 200WMA. Presently, Bitcoin has reclaimed the 200WMA and tested the 111DMA. Pricing Model: (Source: Glassnode) Pricing Model: (Source: Glassnode)
The post Bitcoin trading in a tight range, but reclaims 200 WMA appeared first on CryptoSlate.
origin »