{"id":371582,"date":"2019-02-15T20:00:58","date_gmt":"2019-02-15T20:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=371582"},"modified":"2019-03-11T20:34:52","modified_gmt":"2019-03-11T20:34:52","slug":"crypto-bitcoin-price-moving-average","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-bitcoin-price-moving-average\/","title":{"rendered":"Crypto Analyst: Bitcoin Price Stuck Between Converging Moving Averages Until Mid-Year"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Traders, investors, and analysts are all watching <a href=\"https:\/\/wncen.com\/tag\/bitcoin-price\">Bitcoin price<\/a> charts in hopes to better predict when the current crypto bear market ends and a new uptrend will resume. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">One particular crypto analyst believes that the Bitcoin price will continue to be squeezed tightly together until at least mid-year, as it consolidates between two important converging moving averages. <\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Price Consolidating Between 200MA Support and 50MA Resistance<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">In mid-March, <a href=\"https:\/\/wncen.com\/tag\/bitcoin\">Bitcoin<\/a> price decisively broke through the 50-week moving average following a failed inverse head and shoulders that created a double-top formation, sending BTC to retest its February 2018 low near $6K.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Days later, a \u201cdeath cross\u201d occurred. A <a href=\"https:\/\/wncen.com\/2018\/03\/29\/death-cross-sparks-bitcoin-sell-off\/\">death cross<\/a> is an extremely bearish chart pattern in which an asset&#8217;s short-term moving average (50MA) crosses and falls below its long-term moving average (200MA).<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/2019\/02\/13\/bitcoin-bottom-entire-btc\/\">Bottom Doesn\u2019t Matter, Last Time General Population Can Afford Entire BTC<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Those same two important moving averages are also responsible for Bitcoin\u2019s tightening trading range, and according to one prominent crypto analyst, Bitcoin price will remain stuck between the 200MA and 50MA until at least \u201cmid-year.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Nothing changed since first post of the year. Predicting price to continue within the rapidly converging moving averages until mid-year. <a href=\"https:\/\/t.co\/hyuv8djM47\" rel=\"nofollow\">pic.twitter.com\/hyuv8djM47<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/19195393?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 14, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The 200MA has been acting as support since Bitcoin\u2019s earliest days trading, while the 50MA has proven to be powerful resistance ever since the death cross occurred back in March of 2018.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The two points are \u201crapidly converging\u201d according to <a href=\"https:\/\/twitter.com\/davthewave\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Dave the Wave<\/a>. The oft-cited analyst doesn\u2019t expect to see a break of either moving average until at least mid-year. The mid-year prediction is further backed up by the monthly MACD, which Dave the Wave believes will turn up in roughly \u201csix months.\u201d<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Simply look for the MACD to turn up&#8230; in six months. <a href=\"https:\/\/t.co\/VL3RmfNLqz\" rel=\"nofollow\">pic.twitter.com\/VL3RmfNLqz<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/08149760?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 14, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">Should <a href=\"https:\/\/wncen.com\/tag\/bitcoin-price\">Bitcoin price<\/a> break up as the two points converge, a golden cross will occur and an uptrend could resume. A golden cross is the exact opposite of the death cross, and typically indicates that there\u2019s potential for a major rally to follow.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">If Bitcoin price breaks down further below the 200MA, Bitcoin\u2019s logarithmic growth curve as it is current charted will be broken and the long-term future of the asset will be called into question. The coming months will be especially important.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Price Logarithmic Growth Curve Could Point to $100K at Next Peak<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">While <a href=\"https:\/\/wncen.com\/tag\/bitcoin\">the first every cryptocurrency<\/a> is in dangerous territory in its relation to the 200MA and its proximity to the logarithmic growth curve line, the good news is that if past peaks and troughs are repeated, the next Bitcoin all-time high could be somewhere near or above $100K.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/2019\/02\/14\/crypto-analyst-bitcoin-btc\/\">Bitcoin Investors Are Underwater, But BTC Bounces Back Quickly\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The experienced chartist warns that the next peak \u201cmay take a few years\u201d to reach, and like what happened at $20K and other past peaks, another major correction will occur.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The good, the bad, and the ugly of the logarithmic growth curve &#8211;<\/p>\n<p>1] Up from here to 100K odd<br \/>2] May take a few years<br \/>3] may then face another major correction <a href=\"https:\/\/t.co\/f5EAPQGP2y\" rel=\"nofollow\">pic.twitter.com\/f5EAPQGP2y<\/a><\/p>\n<p>&mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) <a href=\"https:\/\/twitter.com\/davthewave\/status\/84442368?ref_src=twsrc%5Etfw\" rel=\"nofollow\">February 14, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"p1\"><span class=\"s1\">The analyst also suggested that Bitcoin\u2019s price will continue to stabilize as the logarithmic growth curve flattens, or else it cannot be claimed to be \u201cmoney.\u201d<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Traders, investors, and analysts are all watching Bitcoin price charts in hopes to better predict when the current crypto bear market ends and a new uptrend will resume. One particular crypto analyst believes that the Bitcoin price will continue to be squeezed tightly together until at least mid-year, as it consolidates between two important converging moving averages. Bitcoin Price Consolidating Between 200MA Support and 50MA Resistance In mid-March, Bitcoin price decisively broke through the 50-week moving average following a failed inverse head and shoulders that created a double-top formation, sending BTC to retest its February 2018 low near $6K. Days later, a \u201cdeath cross\u201d occurred. A death cross is an extremely bearish chart pattern in which an asset&#8217;s short-term moving average (50MA) crosses and falls below its long-term moving average (200MA). Related Reading |\u00a0Bottom Doesn\u2019t Matter, Last Time General Population Can Afford Entire BTC Those same two important moving averages are also responsible for Bitcoin\u2019s tightening trading range, and according to one prominent crypto analyst, Bitcoin price will remain stuck between the 200MA and 50MA until at least \u201cmid-year.\u201d Nothing changed since first post of the year. Predicting price to continue within the rapidly converging moving averages until mid-year. pic.twitter.com\/hyuv8djM47 &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) February 14, 2019 The 200MA has been acting as support since Bitcoin\u2019s earliest days trading, while the 50MA has proven to be powerful resistance ever since the death cross occurred back in March of 2018. The two points are \u201crapidly converging\u201d according to Dave the Wave. The oft-cited analyst doesn\u2019t expect to see a break of either moving average until at least mid-year. The mid-year prediction is further backed up by the monthly MACD, which Dave the Wave believes will turn up in roughly \u201csix months.\u201d Simply look for the MACD to turn up&#8230; in six months. pic.twitter.com\/VL3RmfNLqz &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) February 14, 2019 Should Bitcoin price break up as the two points converge, a golden cross will occur and an uptrend could resume. A golden cross is the exact opposite of the death cross, and typically indicates that there\u2019s potential for a major rally to follow. If Bitcoin price breaks down further below the 200MA, Bitcoin\u2019s logarithmic growth curve as it is current charted will be broken and the long-term future of the asset will be called into question. The coming months will be especially important. Bitcoin Price Logarithmic Growth Curve Could Point to $100K at Next Peak While the first every cryptocurrency is in dangerous territory in its relation to the 200MA and its proximity to the logarithmic growth curve line, the good news is that if past peaks and troughs are repeated, the next Bitcoin all-time high could be somewhere near or above $100K. Related Reading |\u00a0Bitcoin Investors Are Underwater, But BTC Bounces Back Quickly\u00a0 The experienced chartist warns that the next peak \u201cmay take a few years\u201d to reach, and like what happened at $20K and other past peaks, another major correction will occur. The good, the bad, and the ugly of the logarithmic growth curve &#8211; 1] Up from here to 100K odd2] May take a few years3] may then face another major correction pic.twitter.com\/f5EAPQGP2y &mdash; dave the wave\ud83c\udf0a\ud83c\udf13 (@davthewave) February 14, 2019 The analyst also suggested that Bitcoin\u2019s price will continue to stabilize as the logarithmic growth curve flattens, or else it cannot be claimed to be \u201cmoney.\u201d Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":371586,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,6664,24132,3056],"class_list":["post-371582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-crypto","tag-dave-the-wave","tag-moving-averages"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: Bitcoin Price Stuck Between Converging Moving Averages Until Mid-Year<\/title>\n<meta name=\"description\" content=\"One crypto analyst believes that the Bitcoin price will continue consolidate between two important converging moving averages until at least mid-year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/crypto-bitcoin-price-moving-average\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst: Bitcoin Price Stuck Between Converging Moving Averages Until Mid-Year\" \/>\n<meta property=\"og:description\" content=\"One crypto analyst believes that the Bitcoin price will continue consolidate between two important converging moving averages until at least mid-year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-bitcoin-price-moving-average\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-02-15T20:00:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-03-11T20:34:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/bitcoin-price-crypto-shutterstock_1038671149.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"4500\" \/>\n\t<meta property=\"og:image:height\" content=\"3000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. 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