gnaveen23

BTC : 50/200 MA crossed over - what next ?

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
As we charted out earlier this month, Bitcoin (Day chart) is apparently still following the Wyckoff Accumulation model, and has hit a local top ( of Phase B ) and now declining.
At the same time, we see that the 50d MA has now crossed over 200d MA and diving down - we will now hope BTC price action to bounce off just below the support lines (say around $28K) and the 50d MA come back up and cross over 200d MA to the north, technically that would determine a confirmation for BUY.

Comments

Clean!
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