Bitcoin Continues Bullish Run [Bitcoin Price Update 2/20/2018]

sjanderson144 (35)in #bitcoin • 7 years ago

Bitcoin is looking to complete a daily chart bullish moving average crossover of the 12 EMA above the 26 EMA. This signal has been in the past a strong indicator of higher prices to come. "The Bull is Back," is looking more and more accurate.

4-Hour Chart

12 EMA: $11,315
26 SMA: $10,895

The 4-hour chart is overextended but still bullish. The fast moving average trades above the slow one, and the price has established itself above both. Support comes in near the $11,000 level.

Daily Chart

12 EMA: $10,140
26 SMA: $10,115

Upon the close of today's daily candle, the daily chart might complete a bullish moving average crossover, whereby the 12 EMA will be valued above the 26 EMA. The last time this event happened was in late September 2017, and BTCUSD rallied hard from there. Support comes in near $10,100 at the rising moving averages.

DISCLAIMER

This post is for information and illustrative purposes only. It is not, and should not be regarded as “investment advice” or as a “recommendation” regarding a course of action.