Crypto is all over the place lately. Bitcoin has traded nicely within the bounds of the Bitcoin Logarithmic Growth Curves, but is in danger of falling into a further downtrend. The recent volatility has shaken the uptrend's momentum, and BTC is trading just above the 180 day moving average. The relative flatness of the 180 SMA indicates we could see BTC's next cycle soon. Bulls will want to see support from the 180 day SMA. Next they would want to see BTC concur shorter term moving averages, such as the 10 day. A break in the ceiling drawn between the April highs and recent September highs would be another great sign for the bulls, along with a test of the next Logarithmic Growth Curve. Bears will want the opposite. First a break in support of the 180 day SMA line, followed by a test of the lower bound Growth curve. Some long term trend lines are drawn in green, along with my opinion of where it could bottom out in red (horizontal.)
These are strictly my opinions posted for educational reasons only. This is not financial advice.
These are strictly my opinions posted for educational reasons only. This is not financial advice.