This post is only for entertainment purpose, i'm not a financial advisor.
Do your own analysis before investing any money.
Although I'm not a professional analyst, I've been following the charts a lot and doing my own analysis. And I thought it would be interesting to share the knowledge with everyone. Hope you like it.
Lately BITCOIN has been in a very favorable buying zone for long term holding, historically whenever it reached the 200 Week Moving Average it meant the bottom of Bitcoin.
Although this is an important data, for the first time in BTC history we are below the 200WMA support, which does not invalidate this buy zone for long term holding, but it also means that prices could fall further.
The red zone represents all values below 200WMA.
In this post I just wanted to give an overview of the current situation of Bitcoin, in the next posts I will focus more on the daily chart. I hope you enjoyed.
