uBlinked

Bitcoin - Waiting to hit the 100-day moving average

BITSTAMP:BTCUSD   Bitcoin / Dollar
Bitcoin             is waiting for the 100-day moving average just as it had on previous runs before the surge. The most recent surge from the 50-day moving average failed to break resistance.
Temporarily falling to the 100-day moving average flags an "on-sale" sign, especially after trading sideways showing strong support for a long period of time.

I don't expect Bitcoin             to fall to $10K right now, so it looks like we'll be in this side-ways for now, enough time for the 100-day moving average to make it's way up. I suspect Bitcoin             to hit the 100-day moving average within the next 2 weeks. Where much of the market seems to follow Bitcoin's momentum, I suspect a majority of the market will move based on this target.
I think you should probably use the same indicator. Changing from the 200 to 100 is a different basis.
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jollygreen jollygreen
Meant 50* not 200*. The market is so overbought we'll see if it can stay propped up.
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Agreed, it may need to Hit 200 Day to signal enough buyers for another surge.
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