BitcoinUpdated Bitcoin BTC/USD MA Forecast Apr-Oct 2019 (2014-2015 as Primer)
(Note: we are using the inverse BTC/USD chart in this instance for effect/perspective)
USD is now trading below the 49 and 210 day moving averages against Bitcoin. In the previous BTC bear market of 2014-2015, this was also true for a time, but price bounced back above for a period of a few months.
Towards the end of April 2019, or more likely during May, there is a chance of price moving towards 6000-6500 such that the 49 crosses the 210, which would signify a potential major change in trend (i.e. end of the bear market for BTC).
However, if the 2014-2015 primer is to reoccur, then June/July/August might see price move sharply back above the 49/210 moving averages into the 2000-3000 USD region (perhaps wicking into 1000-2000 if the market panics). Following that, September through October might see price moving back towards and eventually through the 49/210 moving averages as BTC strengthens against the USD and into a new bullish trend proper.
USD is now trading below the 49 and 210 day moving averages against Bitcoin. In the previous BTC bear market of 2014-2015, this was also true for a time, but price bounced back above for a period of a few months.
Towards the end of April 2019, or more likely during May, there is a chance of price moving towards 6000-6500 such that the 49 crosses the 210, which would signify a potential major change in trend (i.e. end of the bear market for BTC).
However, if the 2014-2015 primer is to reoccur, then June/July/August might see price move sharply back above the 49/210 moving averages into the 2000-3000 USD region (perhaps wicking into 1000-2000 if the market panics). Following that, September through October might see price moving back towards and eventually through the 49/210 moving averages as BTC strengthens against the USD and into a new bullish trend proper.
Note
BTC is 500 dollars and 10% to the good since April 13th. Let us see if price breaches 6000 resistance.
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