BTC at first major resistance on HTF
Bitcoin is printing bullish candles on lower time frames, while it has reached very important 50-week moving average on higher time frame. This is strong resistance line and a big test for the bulls. If it surpassed, BTC could extend the move higher.
The 50-week moving average represents one year of price action because there are 50 weeks in a ‘market year’, representing a long-term measure of the status of prices.
The 50-week moving average represents one year of price action because there are 50 weeks in a ‘market year’, representing a long-term measure of the status of prices.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.