Bitcoin price is below the 50 week moving average

[aardvark15]

Has anyone else noticed that the price of Bitcoin has dipped below the 50 week moving average?

I don’t know how significant this is, but it is unusual. The price has consistently been above the 50 week moving average over the last couple of years except when it was in a bear market.

[Febo]

Has anyone else noticed that the price of Bitcoin has dipped below the 50 week moving average?

I don’t know how significant this is, but it is unusual. The price has consistently been above the 50 week moving average over the last couple of years except when it was in a bear market.

I guess it left bear market a bit to fast. He owed to serve some more time under 50 week average. Since Bitcoin always pays their debts he went there right now.

[exstasie]

Has anyone else noticed that the price of Bitcoin has dipped below the 50 week moving average?

I don’t know how significant this is, but it is unusual. The price has consistently been above the 50 week moving average over the last couple of years except when it was in a bear market.

Closing multiple weekly candles below the 50-week MA in 2014 and 2018 was confirmation of those bear markets. Right now the market is bouncing above and below, not offering a clear signal yet. The next couple weeks of price action should be informative.

[adaseb]

The problem with moving averages or moving average cross overs like the death cross is that they are lagging indicators. If you are already in a great in the right direction (which in this case would be short) then you can use it to guide your exit, however its generally not a good idea to enter at the moment the cross happens because you are usually chasing the trade.

The moving average that is most significant in my opinion is the 200WMA which has never had a weekly candle close below, it had weekly candles close on or near the wma but never below it. Its actually what got us out of the 2018 bear market back in Q4 2018/Q1 2019. Currently this moving average is far away at $4925. However each week is usually increases by $30-40 or so, so in the next few months of sideways trading we should touch it.

[exstasie]

The moving average that is most significant in my opinion is the 200WMA which has never had a weekly candle close below, it had weekly candles close on or near the wma but never below it. Its actually what got us out of the 2018 bear market back in Q4 2018/Q1 2019. Currently this moving average is far away at $4925. However each week is usually increases by $30-40 or so, so in the next few months of sideways trading we should touch it.

After the death cross and continued decline below the 200-day MA, many analysts are zeroing in on the 200-week MA as the next long term support, Masterluc included.

I'm beginning to wonder if everyone is getting too bearish. Virtually everyone I know is expecting at least the low $6,000s from here if not significantly lower. When everyone starts expecting the same thing, it usually doesn't happen.

[fabiorem]

But we are in a bear market. Bitcoin price is pointing towards $3500.

[figmentofmyass]

But we are in a bear market. Bitcoin price is pointing towards $3500.

i'm seeing all manner of bear targets now, from the $2ks to the $6ks. everyone has turned bearish! it's a welcome sight actually, since the crowd is usually wrong.

i've still got some dry powder on the sidelines in case of further dipping but tbh i'm skeptical of lower lows. we're only like 5 months out from the halving and we're already deep in a correction. it's a dangerous time to keep betting on more red. my sense is that bears are getting greedy now.

[buwaytress]

Has anyone else noticed that the price of Bitcoin has dipped below the 50 week moving average?

I don’t know how significant this is, but it is unusual. The price has consistently been above the 50 week moving average over the last couple of years except when it was in a bear market.

How not to notice? It's plastered all over Twitter and Reddit, and almost on every TA's analysis. Been expecting it for a time now, 50 and 200MA examined so closely every day.

We didn't need further confirmation that we're in a bear market (relatively speaking). But go ahead and ask someone to show you indicators that we're about to go on a bull run (relatively speaking).

Everything's relative, I guess?