offline
If Bitcoin Starts Closing Below the 50-Day SMA It May Mean Deeper Pullback Ahead
"The loss of bullish momentum is only short-term in nature," one chart analyst said.
Bitcoin fell sharply on Sunday, dipping well below the 50-day simple moving average (SMA) support for the first time in six months.
While the decline looks typical of a bull market correction, it could be extended further if prices find acceptance under the 50-day SMA, according to one analyst.
“The loss of [bullish] momentum is only short-term in nature, but we would view consecutive closes below the 50-day SMA as a reason to move to the sidelines,” Katie Stockton, technical analyst and managing partner of Fairlead Strategies, told CoinDesk in an email.
...
https://www.coindesk.com/if-bitcoin-star...back-ahead
"The loss of bullish momentum is only short-term in nature," one chart analyst said.
Bitcoin fell sharply on Sunday, dipping well below the 50-day simple moving average (SMA) support for the first time in six months.
While the decline looks typical of a bull market correction, it could be extended further if prices find acceptance under the 50-day SMA, according to one analyst.
“The loss of [bullish] momentum is only short-term in nature, but we would view consecutive closes below the 50-day SMA as a reason to move to the sidelines,” Katie Stockton, technical analyst and managing partner of Fairlead Strategies, told CoinDesk in an email.
...
https://www.coindesk.com/if-bitcoin-star...back-ahead
__________________
