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: Bitcoin, Gold Spike as Fed Unveils Unlimited Coronavirus Stimulus Package

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: Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks

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

• Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls
• Bailouts, Bitcoin, Disruption, Failures and Hope

• 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, Gold Spike as Fed Reserve Unveils Unlimited Coronavirus Stimulus Package

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: Bearish ‘Death Cross’ Price Patterns Loom for Both Bitcoin and US Stocks

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

• Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls
• Bailouts, Bitcoin, Disruption, Failures and Hope

• 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: Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls

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: Bailouts, Bitcoin, Disruption, Failures and Hope

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

• As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again
• Bitcoin Bumps Up, but for How Long?

• 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: Bailouts, Bitcoin, Disruption, Failures and Hope

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: As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again

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 Bumps Up, but for How Long?
• The Puell Multiple Is Turning Bullish on Bitcoin

• 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: As This Crisis Worsens, Bitcoin Will Become a Safe Haven Again

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 Bumps Up, but for How Long?

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

• The Puell Multiple Is Turning Bullish on Bitcoin
• Bitcoin Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

• 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: As this Crisis Worsens, Bitcoin Will Become a Safe Haven Again

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 Bumps Up, but for How Long?

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

• The Puell Multiple Is Turning Bullish on Bitcoin
• Bitcoin Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

• 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 Bumps Up, but for How Long?

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: The Puell Multiple Is Turning Bullish on Bitcoin

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 Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K
• What an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

• 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: The Puell Multiple Is Turning Bullish on 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: Bitcoin Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

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

• What an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition
• Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis

• 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 Claws Back Over 40% of Recent Price Sell-off With Surge Above $6.8K

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: What an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

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

• Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis
• Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations

• 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 Claws Back Over 40% of Recent Price Selloff With Surge Above $6.8K

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: What an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

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

• Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis
• Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations

• 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: What an Uptick in ‘Coinjoins’ Says About Bitcoin’s Value Proposition

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: Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis

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

• Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations
• Bitcoin Sees 9% Gain as Turmoil Hits the Forex 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: Israeli Bitcoiners See Surveillance as Unavoidable During Coronavirus Crisis

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: Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations

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 Sees 9% Gain as Turmoil Hits the Forex Markets
• CME Bitcoin Options Volume Hits Record Low, While Bakkt Goes Weeks With No Trades

• 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: Huobi Adds Crypto ‘Circuit Breaker’ After Last Week’s Mass Liquidations

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 Sees 9% Gain as Turmoil Hits the Forex Markets

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

• CME Bitcoin Options Volume Hits Record Low, While Bakkt Goes Weeks With No Trades
• Controversial Group Behind Coronavirus Tracking App Has Crypto Ties

• 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 Sees 9% Gain as Turmoil Hits the Forex Markets

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: CME Bitcoin Options Volume Hits Record Low, While Bakkt Goes Weeks With No Trades

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

• Controversial Group Behind Coronavirus Tracking App Has Crypto Ties
• Bitcoin Faces Another Down Day as Equities Reject Stimulus Efforts

• 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: CME Bitcoin Options Volume Hits Record Low, While Bakkt Goes Weeks With No Trades

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: Controversial Group Behind Coronavirus Tracking App Has Crypto Ties

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 Faces Another Down Day as Equities Reject Stimulus Efforts
• Canadians Get US Jail Time for Stealing 23 Bitcoin in Twitter Scam

• 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: Controversial Group Behind Coronavirus Tracking App Has Crypto Ties

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 Faces Another Down Day as Equities Reject Stimulus Efforts

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

• Canadians Get US Jail Time for Stealing 23 Bitcoin in Twitter Scam
• Experts Say the Fed’s QE Program Will Strengthen Bitcoin – One Way or Another

• 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 Faces Another Down Day as Equities Reject Stimulus Efforts

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: Canadians Get US Jail Time for Stealing 23 Bitcoin in Twitter Scam

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

• Experts Say the Fed’s QE Program Will Strengthen Bitcoin – One Way or Another
• Record Bitcoin Price Volatility Fails to Unnerve HODLers

• 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: Experts Say the Fed’s QE Program Will Strengthen Bitcoin – One Way or Another

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: Record Bitcoin Price Volatility Fails to Unnerve HODLers

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 Is Now Undervalued, Suggests This Price Metric
• Retail Investors Are Buying the Bitcoin Institutions Are Selling, Traders Say

• 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: Experts Say the Fed’s QE Program Will Strengthen Bitcoin – One Way or Another

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: Record Bitcoin Price Volatility Fails to Unnerve HODLers

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 Is Now Undervalued, Suggests This Price Metric
• Retail Investors Are Buying, the Bitcoin Institutions Are Selling, Traders Say

• 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: Record Bitcoin Price Volatility Fails to Unnerve HODLers

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 Is Now Undervalued, Suggests This Price 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

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