Forecast and levels for Cryptocurrencies - page 26

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Sergey Golubev
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Press review

Sergey Golubev, 2019.04.12 12:24

Crypto News - Bitcoin: weekly bullish reversal to 200 SMA to above; 5,464 is the key resistance level (based on the article)

Bitcoin (BTC/USD) daily chart by Metatrader 5

  • "Bitcoin broke the $5,000 mark on April 2 grabbing the headlines across the globe. For traders, it was mainly about FOMO (Fear Of Missing Out). It is natural to have this kind of feeling especially if one has paid attention to thepast performance of Bitcoin. Year-to-date it is up 34 percent. Since 2014, there have been several bull rallies for Bitcoin and each of this was stronger than the previous one."
  • "For the Bitcoin price, the 50-day Smooth Moving Average (SMA) (shown in pink color on the chart below) and the 100-day SMA (shown in green color) on the daily time frame are really important. The argument is that the crossover of the 50-day and 100-day SMAs is of critical importance. This is because it represents a buy and sell signal. History tells us that when the 50-day moving average crosses above the 100-day moving, it produces a solid buy signal. The last crossover occurred back in April 2016. The exit signal comes when the price drops below the 50-day moving average."

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The chart was made on MT5 with standard indicators of Metatrader 5


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