Bitcoin 200 week moving average holding up so far
Bitcoin price has stayed above the 200 week moving average for a few weeks now. I was hoping to see a spike below, like can be seen in the last bear market on this chart. Maybe we will still get that? There's no guarantee that the 200 week moving average will hold this time but until it breaks, becomes resistance and the price goes decisively lower, it seems to be working.
I wouldn't go all in now though, I would be surprised if the price just goes up from here, the chart just looks like it needs to test the 200 week MA properly before it could be considered as a good support.
Here's the chart, if you want to keep an eye on it https://www.barchart.com/shared-chart/%5EBTCUSD?chart_url=i_1545214948_1464784760&page_url=%2Fcrypto%2Fquotes%2F%5EBTCUSD%2Finteractive-chart%3Fid%3D935914
I don't know how accurate the volume is but its good to see some bigger bars, after months of low volume.
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