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NewsBTC 2021-08-04 19:00:41

The Bullish Bitcoin Crossover No One Is Paying Attention To

The Bitcoin 20 DMA seems to have just crossed with the 50 DMA, here is how it might be bullish for the cryptocurrency. The Bitcoin Bullish Crossover As pointed out by a BTC technical analyst on Twitter, two important indicators of the cryptocurrency have just had a crossover. The two metrics are the 20 daily-moving average (DMA) and the 50 DMA. Before looking at the data, it’s best to first get a grasp of both these indicators. Moving averages (MA) help smooth out the price data for Bitcoin as they take averages of the price over a specific period and constantly update or “move” forward. The indicator “smooths out” the price as it mitigates effects of small fluctuations on the price, giving a smoother curve. The 20 daily moving average (DMA) averages the daily price over 20 days, while the 50 DMA uses data of the past 50 days. Related Reading | On-Chain Data Shows Bitcoin Daily Transaction Volumes Are Up 94%, Rally Might Not Be Over Just Yet Now, here is the chart that shows the variations in the 20 DMA and 50 DMA for BTC: The BTC 20 and 50 DMA have their first crossover since May As the above graph displays, the Bitcoin 20 and 50 DMA indicators are having a crossover right now where the 20 DMA curve seems to be shooting above the 50 DMA. The last time this type of crossover happened was in October 2020, right before the massive bull run where BTC set a new all-time-high (ATH). However, these...

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The Bullish Bitcoin Crossover No One Is Paying Attention To

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