BTCUSD
Shows us the answer. Coinbase exchange daily chart shown. As seen on the chart, when BTC manages to climb through and hold above the 125 daily moving average price action tends to rally upward quite nicely after each brush with the support. However, when the 125 MA is breached to the downside, bagholding ensues. Once under the 125, price action tends to fall off sharply after each brush with the resistance. So while the general consensus is that the 200 day moving average determines bull/bear market sentiment, I would argue the 125 MA is a much more telling source of information on whom is in control of BTC price action. This is important to note because as the chart again shows, BTC is flirting once again with the 125 MA after the sharp price increase that was seen when it broke back through the 125 in March, which "refreshed" the bull market (see what I did there lol). So, if you are on the sidelines, now is a good time to go long BTC. Reason being, if the 125 ultimately holds, you get the entire move. If it does not hold, you can cut out with only minimal losses. I am on record for a while as being a proud owner of BTC, DASH, ETH, and BCH, with a sprinkle of LTC as long term investments, so I am slightly biased to the longside. But to me #Fintechisthefuture, so sue me. Happy hunting and GLTA!!
