Is the 4h 200 SMA Bull Run for BTC coming to an end?
The 4h 200 SMA for BTC has held up well since early February. We gained 112% in 118 days, which is almost 1% per day. That's not a bad return. Better than most banks. LOL
But today the price is tickling the 4h 200 SMA and may drop through it. If it does, then it may be time to sit by the sidelines or tighten up the stops because this ship will be headed through a storm and will likely be taking on water.
I just thought I'd mention the 4h 200 SMA today because it has held up so well for the year. It was a reliable old friend. I shall miss ye.
RIP 4h 200 SMA.
Gallows humor aside, I don't expect the price to stay below 200 MA for more than a few weeks. I'm hoping for a $6000 to $6500 bounce back. It may be time to preserve money and buy in around $6500.
The 4h 200 MA may act as resistance once we turn bullish again. It's just another indicator to keep a watchful eye on.
I hope you found this useful. If not, well at least I kept it short. :-)
But today the price is tickling the 4h 200 SMA and may drop through it. If it does, then it may be time to sit by the sidelines or tighten up the stops because this ship will be headed through a storm and will likely be taking on water.
I just thought I'd mention the 4h 200 SMA today because it has held up so well for the year. It was a reliable old friend. I shall miss ye.
RIP 4h 200 SMA.
Gallows humor aside, I don't expect the price to stay below 200 MA for more than a few weeks. I'm hoping for a $6000 to $6500 bounce back. It may be time to preserve money and buy in around $6500.
The 4h 200 MA may act as resistance once we turn bullish again. It's just another indicator to keep a watchful eye on.
I hope you found this useful. If not, well at least I kept it short. :-)
Feragatname
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