Advertisement
AD

Main navigation

Bitcoin Crosses 200-Day Average and Signalizes Beginning Of Possible Bullish Trend

Advertisement
Tue, 10/08/2021 - 10:04
Bitcoin Crosses 200-Day Average and Signalizes Beginning Of Possible Bullish Trend
Cover image via stock.adobe.com
Read U.TODAY on
Google News

The recent situation on the Bitcoin chart has started to signalize the possibility of an upcoming major bullish trend. The ultimate signal appeared yesterday and was confirmed today by the candle that opened above the resistance.

Advertisement

The 200-day moving average cross is the signal of a trend reversal that is used in various trading strategies and systems as the determination of the current trend direction.

Daily Bitcoin Chart
Source: TradingView.com

As for now, Bitcoin is consolidating right above the mentioned line. The final confirmation of the breakthrough will be the closing of two or more candles above the line. 

Related
Ripple Client Tranglo Approved for Boosting Money Transfers and E-Money Issuance in Asia

In addition to the simple moving averages, the exponential moving averages with arguments of 50 and 200 are coming closer to each other and soon may or may not form another bullish signal for the market: 200/50 EMA cross. After the previous bearish cross Bitcoin went to the strong support with a 16% price drop.

In the last 20 days, Bitcoin’s price has risen from a “bottom” price of $27,500 and gone straight up to $45,000 without any major consolidation despite the “bearish” news that has appeared recently.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Is Shiba Inu Getting Ready for Death Cross? Critical Cardano Breakdown, Next Bitcoin (BTC) Support Level Revealed
Monster Bitcoin (BTC) Purchase Mystifies Community
Fidelity Surpasses BlackRock and Other ETFs by Daily Bitcoin Inflows Today
Nvidia Surpasses Entire Crypto Market as AI Hype Picks Up Steam
Cardano Praised by Dan Gambardello As Strong Chain While Avalanche Hit By Outage
Shiba Budz (BUDZ) Novel Meme Coin Pre-Sale Gaining Steam in Late February as Majors Dogecoin (DOGE), Shiba Inu (SHIB) Remain in Tops
Ripple Cofounder Celebrates Major Stellar Success, Polkadot Secures Spot on Coinbase Futures, Shiba Inu Burn Rate Surges 8,511%: Crypto News Digest by U.Today
Ethereum Dencun Upgrade Date Confirmed by Devs
Millions of XRP Shifted by Whales as Price Hits Key Support
Binance Web3 Wallet Announces Massive Crypto Giveaway to Celebrate ERC-404 Integration
Legendary Trader John Bollinger Issues Bullish Wake-Up Call as Bitcoin Price Turns Red
Spot Bitcoin ETFs Break Record With $50 Billion Trading Volume
Ethereum (ETH) Price Prediction for February 23
Solana (SOL) Price Prediction for February 23
BlockDAG Network (BDAG) Pre-Sale Might be Gaining Steam in February since Retik Finance (RETIK), and eTuk Tuk (ETUKTUK) Communities Show Interest
Shiba Inu Developer Excites SHIB Community With Tweet, What It Pertains To
SHIB Army Receives Crucial Warning From Shiba Inu Team
MetaClip (MCLP) Cryptocurrency Sale Campaign Invites Investors as XRP Price Growing
DeeStream (DST) Asset Release Campaign On-Boards Investors as Blur (BLUR), Cosmos (ATOM) Keep Surging
XRP Makes Crucial Price Move, But Massive Roadblock Is Ahead
Our social media
There's a lot to see there, too

Popular articles