BTC Weekly WMA 100 Broken

16. Mai 2022

One of the most underrated moving averages in crypto is the 100 WMA, which is like a secret weapon when it comes to finding trends, support and resistance, and entry and exit points. Test it out for yourself on any timeframe, and you'll see that Bitcoin and the rest of the cryptocurrency market tends to follow the trends that the WMA plots out. This being said, when the WMA is broken, it usually indicates a sell signal, or incoming price declines/volatility. The weekly chart is a macro view of Bitcoins trajectory, and we broke the 100 WMA about a week ago, and as the chart shows, this usually spells trouble when it happens (see orange circles) I would be very cautious moving forward, as in the short to mid-term I am bearish. If we can regain the 100 WMA that would be a pretty strong indicator that things are looking up. For now, remain cautious, watch the signals, and stick to your system. We got this. Cheers