Bitcoin & MA200: Keeping It Simple
2024-09-30

Using MA200, we can determine if Bitcoin, or any Cryptocurrency, is in bullish or bearish territory.

➖ When an asset trades above MA200, we consider it bullish and it grows.
➖ When any asset trades below MA200, we consider it bearish and it drops.

Here we are looking at Bitcoin (BTCUSDT) on the daily timeframe. We can see that it moved above MA200 briefly, for a few days. Needless to say, trading above MA200 is a major bullish development.

We can notice how in late August also Bitcoin closed for three days above MA200, just move back down, a failed signal. This same pattern is being repeated now.

We can see how the recent move above MA200 produced no bullish volume. Trading volume was really low, in fact, the lowest in years. This signals that this was a weak move, simply a pull-back and not a real bullish wave. A strong bullish wave would be accompanied by strong rising volume.

Bitcoin moving below MA200 would translate as a major bearish development and confirms the continuation of the bearish cycle that started at the March 2024 peak. It would confirm a lower low compared to 5-August and potentially the last low of this corrective phase.

There will be some more bearish action in November but hopefully this will be a higher low and short lived. We are looking great for 2025. Major growth and a new All-Time High.

We are looking great mid-term and the market continues to grow overall. Short-term, Bitcoin is about to crash and I've been warning you for months.

The next target sits in the 44,000 to 40,000 price range. There is also a lower range that sits between 33,000 and 26,000.

Thank you for reading.

Prepare for the crash.

After the crash, the market will recover and grow long-term.

Namaste.