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Immediate levels of relevance for Bitcoin on the charts! BTC’s first price hurdle is the 50 day MA now at $3842 using Bitfinex prices. The last attempt to hold above started roughly 1.5 weeks ago and held for only 4.5 days. Before that, the last time bitcoin held above the 50 day MA was Oct. 2018 making it a viable 1st hurdle to study price behavior near. Going even deeper the last time bitcoin went on an upward run started with a break above the 50 day MA in August of 2018. Although the run was short lived, this moving average was the first hurdle and thus an important level to monitor always. Relevant price hurdles to the downside sit near $3500 mostly with the past weeks low as one and the next support at $3475 where a break down under could also trigger an increase in downward momentum. Wanna learn more? Check out our upcoming trading seminar by following us on Twitter to stay tuned for more alerts and info on seminar dates!

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5 months ago