Post
Topic
Board Speculation
Re: Where is the bullrun???
by
Greyhats
on 10/07/2024, 15:26:45 UTC
I have to confess that I don't understand too much about criptos, but during an important time I have studied about reading charts and I can't see a reason for believe that BTC will explode in short-term. I would like to know: What makes you think that will happen a bull run now? It is  a true need to learn about it.

We are in the bull run, I like to use the 200 WMA as the grounding and anytime we go over that its indicative of bullish market. Its definitely a zoom out metric to use. Here is a hand free chart for it

https://www.lookintobitcoin.com/charts/200-week-moving-average-heatmap/

Its not perfect either, its been breached so I dont neccessarily use it as a support line, but only when accounting for are we in bullish terrority. You can further it a bit with your own speculation, what % above the 200 WMA is conservative, low, medium, high, ultra bullish for your own thoughts.

Right now the 200 WMA is ~$36.5k and the spot price is ~$57.8k. Divide spot by WMA to get your % diff (158%). Now you can plug this into your thoughts above, to get to the type of bullish it is.