POSTED ON April 5, 2021 BY Aibek Burabayev
As Bitcoin matures, the chart structure becomes more readable over time. We can see how such a conventional indicator as a moving average perfectly supports the price. I added a 55-day (Fibonacci number) moving average (green), which at least three times this year kept the price in the bullish mode that started last October when the price crossed this line to the upside.
Another popular indicator RSI has perfectly detected the Bearish Divergence and pushed the price down last month. After that, it moved back above the crucial 50 level, which supported the current upward move.
As Bitcoin matures, the chart structure becomes more readable over time. We can see how such a conventional indicator as a moving average perfectly supports the price. I added a 55-day (Fibonacci number) moving average (green), which at least three times this year kept the price in the bullish mode that started last October when the price crossed this line to the upside.
Another popular indicator RSI has perfectly detected the Bearish Divergence and pushed the price down last month. After that, it moved back above the crucial 50 level, which supported the current upward move.
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