Bitcoin (Simple Moving Averages)
Well i'am new to crypto space but what i can see is that there is a huge importance of moving averages in chart reading.
- From the chart above we can clearly see that bitcoin had a rebound at the 300 day moving average which was a good buying position.
- After going above the 200 day moving average it is having a pullback again but also resisting at the 200 day moving average so if it crosses the 200 day again downwards and stays there for a while it may test the 300 day again.
- What about the 100 day moving average ? , first it have to cross the big even no. i.e the 10000$ line and then it will test the 100 day.
What i will always suggest is to be patient, set your buying and selling limits, develop chart reading skills and never stake all of your position.
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