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Bitcoin trading in a tight range, but reclaims 200 WMA

CoinSurges
By CoinSurges

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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)
Pricing Model: (Source: Glassnode)
Pricing Model: (Source: Glassnode)

The post Bitcoin trading in a tight range, but reclaims 200 WMA appeared first on CryptoSlate.

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