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: First Mover: Bitcoin Attracting More Buyers, Even With Market Stuck in ‘Extreme Fear’

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 Volatility at 3-Month Low as Market Awaits Big Price Move

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

• Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise
• Crypto Long & Short: The Battle of the Yields

• 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 Volatility at 3-Month Low as Market Awaits Big Price Move

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: Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise

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

• Crypto Long & Short: The Battle of the Yields
• Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’

• 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: Hong Kong’s First Regulator-Approved Bitcoin Fund Targets $100M Raise

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: Crypto Long & Short: The Battle of the Yields

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

• Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’
• Market Wrap: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume

• 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: The Battle of the Yields

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: Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’

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: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume
• Bitcoin Halving Searches on Google Hits All-Time Highs

• 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: Bram Cohen: ‘Getting Rich Is a Terrible Metric of Success’

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: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume

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 Halving Searches on Google Hits All-Time Highs
• First Mover: Stablecoin Surge Might Herald Bitcoin Binge

• 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: Crypto Mining Stock Hut 8 Jumps on Unusually High Trading Volume

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 Halving Searches on Google Hits All-Time Highs

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: Stablecoin Surge Might Herald Bitcoin Binge
• Bitcoin Options Trading Hits One-Month High as Price Turns Bullish

• 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 Halving Searches on Google Hits All-Time Highs

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: Stablecoin Surge Might Herald Bitcoin Binge

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 Options Trading Hits One-Month High as Price Turns Bullish
• Market Wrap: Ether Making Big Gains as Stablecoins Proliferate on 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: Stablecoin Surge Might Herald Bitcoin Binge

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 Options Trading Hits One-Month High as Price Turns 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

• Market Wrap: Ether Making Big Gains as Stablecoins Proliferate on Ethereum
• Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

• 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: Ether Making Big Gains as Stablecoins Proliferate on 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: Open Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

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: Coronavirus Trillions Get Bitcoiners Wondering if Halving Still Matters
• Bitcoin Price Spikes Above $7.1K, Liquidating $23M on BitMEX

• 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 Interest in CME Bitcoin Futures Rises 70% as Institutions Return to Market

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: Coronavirus Trillions Get Bitcoiners Wondering if Halving Still Matters

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 Spikes Above $7.1K, Liquidating $23M on BitMEX
• Ethereum Now Matches Bitcoin on One Key Metric

• 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: Coronavirus Trillions Get Bitcoiners Wondering if Halving Still Matters

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 Price Spikes Above $7.1K, Liquidating $23M on BitMEX

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

• Ethereum Now Matches Bitcoin on One Key Metric
• Market Wrap: Bitcoin Price Volatility Declines in Contrast to S&P 500

• 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 Price Spikes Above $7.1K, Liquidating $23 Million on BitMEX

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: Ethereum Now Matches Bitcoin on One Key Metric

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: Bitcoin Price Volatility Declines in Contrast to S&P 500
• Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle

• 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 Price Volatility Declines in Contrast to S&P 500

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: Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle

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: Gold Is Crushing Bitcoin, but Inflation May Bring the Cryptocurrency a Boost
• More Investors Are Holding Bitcoin 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: Chainlink’s Link Token Outperforms Bitcoin as Business Wins Fuel Hype Cycle

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: Gold Is Crushing Bitcoin, but Inflation May Bring the Cryptocurrency a Boost

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

• More Investors Are Holding Bitcoin Ahead of the Halving, Data Suggests
• Bitcoin Tests $7K as Spot Trading Volumes Subside to Normal Levels

• 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: Gold Is Crushing Bitcoin, but Inflation May Bring the Cryptocurrency a Boost

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: More Investors Are Holding Bitcoin Ahead of the Halving, Data Suggests

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 Tests $7K as Spot Trading Volumes Subside to Normal Levels
• Options Market Signals Doubt Bitcoin Price Will Rise After 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: More Investors Are Holding Bitcoin 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: Bitcoin Tests $7K as Spot Trading Volumes Subside to Normal Levels

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

• Options Market Signals Doubt Bitcoin Price Will Rise After Halving
• First Mover: Bitcoin Market Goes Into ‘Backwardation’ Despite Fed’s Trillions

• 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 Tests $7K as Spot Trading Volumes Subside to Normal Levels

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: Options Market Signals Doubt Bitcoin Price Will Rise After Halving

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: Bitcoin Market Goes Into ‘Backwardation’ Despite Fed’s Trillions
• Bitcoin Stuck Below $7K Even as Gold Surges to Over 7-Year High

• 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: Options Market Signals Doubt Bitcoin Price Will Rise After 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: Bitcoin Market Goes Into ‘Backwardation’ Despite Fed’s Trillions

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 Stuck Below $7K Even as Gold Surges to Over 7-Year High
• Bitcoin Drops as Traders See Bearish Signals in Futures Markets

• 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: Bitcoin Market Goes Into ‘Backwardation’ Despite Fed’s Trillions

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 Stuck Below $7K Even as Gold Surges to Over 7-Year 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

• Bitcoin Drops as Traders See Bearish Signals in Futures Markets
• Crypto Long & Short: DeFi and Traditional Finance Are Forming an Unlikely Friendship

• 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: Bitcoin Market Goes Into ‘Backwardation’ Despite Fed’s Trillions

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 Stuck Below $7K Even as Gold Surges to 7-Year 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

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