Number One: Options and Futures, Oh My
The Bitcoin price has decreased considerably over the previous week. However, it bounced strongly on November 25, leading some people to believe that it has already reached a bottom. The current trading pattern which is supported by several long-term moving averages suggests that Bitcoin is very close to reaching a bottom if it has not already done so.
There have been many theories about this rapid and unexpected decrease. One commentator suggested that it was initiated by whales that are selling in order to claim losses on their tax return.
However, this seems unsubstantiated since Bitcoin is still in profit if you bought in the first half of , so this could be an attempt at falsely rationalizing the price decrease. Bitcoin investor and analyst davthewave stated that in the most bearish scenario Bitcoin will drop all the way to the week moving average MA. However, he believes a smaller decrease to the week MA is more likely. I doubt it given the longer passage of time, and the higher prices clocked.
More likely is a revisit to the WMA [approx. Historically, the Bitcoin price has never traded below its week MA. It has offered support in February and August and December On the other hand, the MA has not always reacted to the price. When it has, it has mostly acted as resistance during the same dates that the week MA has acted as support. However, the medium-term pattern gives a different outcome.
The price has been trading inside a descending channel since June It recently bounced on the support line of this channel. Additionally, the RSI is at its lowest levels since the December bottom and has created bullish divergence. To conclude, we also believe that the price is more likely to bounce at the week MA.
Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile. Did you know you can trade sign-up to trade Bitcoin and many leading altcoins with a multiplier of up to x on a safe and secure exchange with the lowest fees — with only an email address?
Well, now you do! Click here to get started on StormGain! Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo.
In , he decided to focus full-time on cryptocurrencies and trading. BeInCrypto provides an inside perspective on the latest trends in an emerging market while keeping our audience abreast of the hottest news, as it breaks. Our only goal is to provide you — the reader — with important information, and we would never insult your intelligence by publishing unlabeled promotional material.
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This article is intended as news or presented for informational purposes only. The topic of the article and information provided could potentially impact the value of a digital asset or cryptocurrency but is never intended to do so. Likewise, the content of the article and information provided within is not intended to, and does not, present sufficient information for the purposes of making a financial decision or investment. This article is explicitly not intended to be financial advice, is not financial advice, and should not be construed as financial advice.
The content and information provided in this article were not prepared by a certified financial professional. All readers should always conduct their own due diligence with a certified financial professional before making any investment decisions.
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An EMA is trading bitcoin ma crypto used in conjunction with other biycoin to give a more rounded picture of trading entry and exit points. The larger the number of periods the less reactive the EMA is to recent price moves and as such the EMA is a momentum indicator as it moves based on price swings in the underlying. The EMA is calculated by taking the number of periods required and summing the closing the price values at the close and multiplying them by a weighting factor. This weighting factor is higher for more recent periods than that of more distant periods. This gives more importance to the more recent price moves than an SMA does.
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An EMA is often used in conjunction with other indicators to give a more rounded picture of trading entry and exit points. The larger the number of periods the less reactive the EMA is to recent price moves and as such the EMA is a momentum indicator as it moves based on price swings in the underlying. The EMA is xrypto by taking bktcoin number of periods required and summing the closing the price values trading bitcoin ma crypto the close and multiplying them by a weighting factor.
This weighting factor is higher for more recent periods than that of more distant periods. This gives more importance to the more recent price moves than an SMA does. Often exponential moving averages are used in conjunction with each other and simple moveing averages to spot trend reversals and shifts in momentum.
For example when a crypyo term EMA is below a longer term one and then crosses it - you have indicated an upward shift in momentum that is a buy signal. If you look at the Bitcoin price chart above you can see three cross overs marked by circles. The third indicator is a combination of cdypto three indicators combining in a short timer period to indicate a sell.
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Wire deposits will require you to contact your approved bank on file and have funds sent to Gemini. Moreover, we can see a positive reaction to the support level, volumes are good Daniel Jeffries February 3. Valdrin is a cryptocurrency enthusiast and financial trader. It shows market activity. Credit Card — Last but not least, a user can select the credit card payment option. Watching the development of a candlestick overtime allows you to form an understanding of its psychology. Daniel Jeffries January 6. Related articles.