CoinDesk Crypto

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Stablecoin Supply Breaks $10B as Traders Demand Dollars Over Bitcoin

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: First Mover: Dull Bitcoin Halving Salvaged by Satoshi Tribute in Block 629,999

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Third Halving Turns Out to Be Non-Event for Bitcoin’s Price
• Market Wrap: Where Does Bitcoin Go After the Halving?

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: First Mover: Dull Bitcoin Halving Salvaged by Satoshi Tribute in Block 629,999

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Third Halving Turns Out to Be Non-Event for Bitcoin’s Price

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Market Wrap: Where Does Bitcoin Go After the Halving?
• Zcash Alliance Aims to Bring Privacy Tech to Bitcoin, Cosmos and Ethereum

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: First Mover: Dull Bitcoin Halving Salvaged By Satoshi Tribute in Block 629,999

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Third Halving Turns Out to Be Non-Event for Bitcoin’s Price

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Market Wrap: Where Does Bitcoin Go After the Halving?
• Zcash Alliance Aims to Bring Privacy Tech to Bitcoin, Cosmos and Ethereum

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Market Wrap: Where Does Bitcoin Go After the Halving?

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Zcash Alliance Aims to Bring Privacy Tech to Bitcoin, Cosmos and Ethereum

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Ashton Kutcher and Michelle Phan Invest in Lolli’s $3M Seed Round
• Bitcoin’s 8% Drop Triggers Largest Liquidation on BitMEX in 2 Months

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Zcash Alliance Aims to Bring Privacy Tech to Bitcoin, Cosmos and Ethereum

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Ashton Kutcher and Michelle Phan Invest in Lolli’s $3M Seed Round

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Bitcoin’s 8% Drop Triggers Largest Liquidation on BitMEX in 2 Months
• First Mover: As Bitcoin’s Halving Finally Arrives, a Price Retreat Deflates the Hype

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Michelle Phan: The Beauty of Bitcoin

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Market Wrap: Interest in Bitcoin Rises as Prices Near $10K, but Can It Continue?

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• 3 Straight Record Days Drive CME Bitcoin Futures Open Interest to All-Time High
• Most Bitcoin Buyers Are in the Money Ahead of the Halving, Data Suggests

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Market Wrap: Interest in Bitcoin Rises as Prices Near $10K, but Can It Continue?

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: 3 Straight Record Days Drive CME Bitcoin Futures Open Interest to All-Time High

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Most Bitcoin Buyers Are in the Money Ahead of the Halving, Data Suggests
• Open Positions on Bitcoin Options Pass $1B for First Time

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Most Bitcoin Buyers Are in the Money Ahead of the Halving, Data Suggests

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Open Positions on Bitcoin Options Pass $1B for First Time

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• First Mover: Search Interest in Bitcoin’s Halving Reaches Fever Pitch as Price Hits $10K
• Bitcoin Outperforming Gold and Stocks so Far This Month

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Open Positions on Bitcoin Options Pass $1B for First Time

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: First Mover: Search Interest in Bitcoin’s Halving Reaches Fever Pitch as Price Hits $10K

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Bitcoin Outperforming Gold and Stocks so Far This Month
• First Mover: Bitcoin’s ‘Halving’ Is Coming Even Sooner Than You Realize

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Bitcoin Outperforming Gold and Stocks so Far This Month

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: First Mover: Bitcoin’s ‘Halving’ Is Coming Even Sooner Than You Realize

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• ‘Black Thursday’ Distortion Makes Bitcoin Options Look Cheaper
• First Mover: US Arms of Binance, FTX Push Into Margin Trading, but Likely Not at 100x

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: ‘Black Thursday’ Distortion Makes Bitcoin Options Look Cheaper

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: First Mover: US Arms of Binance, FTX Push Into Margin Trading, but Likely Not at 100x

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Bitcoin Breaches $9.2K as Open Positions on CME Futures Hit 10-Month High
• Why Binance and Akon Are Betting on Africa for Crypto Adoption

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: First Mover: US Arms of Binance, FTX Push Into Margin Trading, but Likely Not at 100x

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Bitcoin Breaches $9.2K as Open Positions on CME Futures Hit 10-Month High

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Why Binance and Akon Are Betting on Africa for Crypto Adoption
• Amun Launches Token Tracking the Inverse of Bitcoin’s Price

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: First Mover: U.S. Arms of Binance, FTX Push Into Margin Trading, But Likely Not at 100x

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Bitcoin Breaches $9.2K as Open Positions on CME Futures Hit 10-Month High

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Why Binance and Akon Are Betting on Africa for Crypto Adoption
• Amun Launches Token Tracking the Inverse of Bitcoin’s Price

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Market Wrap: Bitcoin Volatility Higher Than S&P 500 Again but Lower Than Oil

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: First Mover: Amid Economic Meltdown, Bitcoin Is Winning as ‘No Value’ Buffett Eats Crow

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Bitcoin Briefly Hits $9K, Investors Remain Bullish
• Iran Issues License for Nation’s Biggest Bitcoin Mining Operation

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: First Mover: Amid Economic Meltdown, Bitcoin Is Winning as ‘No Value’ Buffett Eats Crow

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Bitcoin Briefly Hits $9K, Investors Remain Bullish

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Iran Issues License for Nation’s Biggest Bitcoin Mining Operation
• Market Wrap: Bitcoin Dips to $8.8K but Optimism Seen Continuing Ahead of Halving

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: First Mover: Amid Economic Meltdown, Bitcoin Is Winning as ‘No Value’ Buffett Eats Crow

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Bitcoin Fails at $9K Hurdle Again, But Data Suggests Investors Are Bullish

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Iran Issues License for Nation’s Biggest Bitcoin Mining Operation
• Market Wrap: Bitcoin Dips to $8.8K but Optimism Seen Continuing Ahead of Halving

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Market Wrap: Bitcoin Dips to $8.8K but Optimism Seen Continuing Ahead of Halving

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: First Mover: Capitalism’s Biggest Crisis Isn’t Driving People to Bitcoin – It’s the Volatility

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Bitcoin in Emerging Markets: The Middle East
• Bitcoin Price May Drop After Halving, Historical Data Shows

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: First Mover: Capitalism’s Biggest Crisis Isn’t Driving People to Bitcoin – It’s the Volatility

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Bitcoin in Emerging Markets: The Middle East

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Bitcoin Price May Drop After Halving, Historical Data Shows
• Crypto Long & Short: Why Bitcoin’s Big Rally Is a Sign of Its Economic Resilience

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Crypto Long & Short: Why Bitcoin’s Big Rally Is a Sign of Its Economic Resilience

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

• Market Wrap: May Opens With Equities Lower While Bitcoin Steady at $8.7K
• Interest in Gold-Backed Token Trading Grows Amid Supply Disruptions

• Bitcoin’s short-term 50-period moving average is edging closer toward the longer-term 100-period moving average on the weekly chart, hinting at a potential bullish “golden cross” formation for the first time in 3.5 years.
• In the shorter term, however, total weekly volume has fallen period-to-period as indecision continues to grip the market.
• Price action is caught between the 100-day and 200-day moving averages (MAs). The next major move either way is likely to determine trend bias going forward, if a firm close above or below those averages is confirmed.

Bitcoin (BTC) looks on track to produce a bullish long-term signal not seen in 3.5 years.

The 50-period and the 100-period MAs have edged closer together on the weekly chart after BTC rebounded from $7,293 to $10,350 on Oct. 26, according to Bitstamp data.

A cross of the 50-period MA moving up above the slower 100-period MA, known as a golden cross, generally hints at a strong shift in a trend and can act as confirmation of a bullish bias for the long-term view.

Related: Bitcoin Miners Usually Create 6 Blocks per Hour. They Just Banged Out 16

The last time that bull cross occurred on the weekly chart was way back in May 2016, when the price of BTC started rising from $438 to near $20,000 in December 2017 – a 4,800 percent increase. If the MA’s continue to converge as currently, the cross looks likely in late December or early 2020, but it’s still too early for a precise call.

There is inherent risk involved with making such comparisons from previous years, as market conditions have changed significantly. Yet there is merit for seeking additional confirmation in the long-term trend, since BTC’s miner reward halving in May 2020 is likely to stir up a bunch of market activity as the supply-cutting event approaches.

Total weekly volume has shrunk from two weeks ago, an indication of market indecision on a fairly stagnant price, while the RSI is barely trending bullish above 52.7 (neutral being 50).

Related: Market Wrap: May Opens With Equities Lower While Bitcoin Steady at $8.7K

However, should the two lines converge and then cross bullish,  that would be a strong indication that the 2019 reversal rally has legs. With a strong fundamental event for BTC occurring right around the corner, it’s important to take note of the bullish signals on larger time frames.

More immediately, the daily chart suggests market equilibrium, as prices have been largely stuck within a $650 range for nearly two weeks.

BTC’s price action has been caught between the 100-day and 200-day MAs for 12 days.

Generally speaking, when prices are above the 200-day MA, the long-term trend can be considered bullish. Conversely, if prices are beneath the 100-day MA then that is an indication of mid-term (30-60 day) bearish conditions.

The current scenario highlights the indecisive sentiment felt across the market. A repeated failure to close above the 100-day MA could open up doors to $8,800 in the immediate short-term, as previously discussed.

Indecision will continue until a firm close above $9,573 (100-day MA) or below $9,180 (200-day MA) occurs with conviction, until then, continued sideways ranging can be expected.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; charts by TradingView

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