I PRESENT TO YOU - BITCOIN MONTHLY CHART: 10 YEAR TREND-LINE AND MOVING AVERAGES
20EMA (green line)
Currently @ $37500
Bitcoin has only dropped below this twice in the history (see white circles) and only closed below it once. When btc falls below the 20ema it will probably meet the 50MA which marks the bottom.
At this moment in time Bitcoin is sitting just above the 20ma. Critical point here, make or break. Need to stay above 37k to avoid meeting the 50MA which tend to lead to a massive drop.
50MA (orange line)
Currently at $19286
Bitcoin reaches this level during market bottoms . There has been three bottoms in history of btc. (see red boxes)
10 Year Trend Line (white dotten line)
The trend line that was once support is now resistance. It has touched this line four times.
Will btc ever go above the trend line again? The current price of the trend line right now is $210,000. Quite a bit of catching up to do. I will be interested to see if they meet again.
20EMA (green line)
Currently @ $37500
Bitcoin has only dropped below this twice in the history (see white circles) and only closed below it once. When btc falls below the 20ema it will probably meet the 50MA which marks the bottom.
At this moment in time Bitcoin is sitting just above the 20ma. Critical point here, make or break. Need to stay above 37k to avoid meeting the 50MA which tend to lead to a massive drop.
50MA (orange line)
Currently at $19286
Bitcoin reaches this level during market bottoms . There has been three bottoms in history of btc. (see red boxes)
10 Year Trend Line (white dotten line)
The trend line that was once support is now resistance. It has touched this line four times.
Will btc ever go above the trend line again? The current price of the trend line right now is $210,000. Quite a bit of catching up to do. I will be interested to see if they meet again.