Re: Two & Four Year MA's Claim It's Time To Accumulate Bitcoin
[Financial advise]
What JayJuanGee said is smart advise.
I have observed that moving average is always good in predicting trends and in recent times I read bitcoin prices are trading below 1 year moving averages which must be a worrying sign for the short term buyers. I guess combining these 2 and 4 years MA charts along with 1 year MA chart may produce more accurate trend analysis if we are able to spot any price cross overs.
Yesterday, bitcoin market suddenly showed a spike up to $7600 levels which made prices to trade above 2 years moving average hence obviously current prices are below 1 year moving average. When we have sudden spike and then bearish markets then these MA charts show sell signals whereas sudden spike and then sustaining markets means buying signal; market is always reacting and heads like that only. I guess this year end may surplice us like take markets into $9000 zone or by falling below $7k levels one more time.
Yesterday, bitcoin market suddenly showed a spike up to $7600 levels which made prices to trade above 2 years moving average hence obviously current prices are below 1 year moving average. When we have sudden spike and then bearish markets then these MA charts show sell signals whereas sudden spike and then sustaining markets means buying signal; market is always reacting and heads like that only. I guess this year end may surplice us like take markets into $9000 zone or by falling below $7k levels one more time.
Since you suggested it, here are the charts with the 1 Year MA (365 Daily MA). You're right, it does indeed appear relevant. +1 as no smerit.
The bull-run definitely accelerated once breaking through the 1 Year MA to the upside in 2015 as well as 2019.
Looking at the current close up, you can see we even got rejected more-or-less perfectly by the 2 Year MA yesterday.
It therefore does seem likely that by dropping below the 1 Year MA the sell-off would accelerate, if the opposite is also true that is.