{"id":400970,"date":"2019-10-09T22:00:17","date_gmt":"2019-10-09T22:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=400970"},"modified":"2019-10-09T20:14:38","modified_gmt":"2019-10-09T20:14:38","slug":"bitcoin-price-reclaiming-important-moving-average-could-lead-to-retest-of-highs","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-reclaiming-important-moving-average-could-lead-to-retest-of-highs\/","title":{"rendered":"Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Since the start of the week, <a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> has rallied from a retest of lows around $7,700 to $8,700 \u2013 gaining over $1,000 in value during the short timeframe.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The rise in Bitcoin price was also yet another retest of the asset\u2019s 200-day moving average, and what happens from here could determine the trend ahead. Will Bitcoin return to its bull market, or will the leading cryptocurrency by market cap fall further to find new lows, putting any chance at a bull market in jeopardy?<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Bitcoin Price Retests Recently Lost 200-Day Moving Average<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">Throughout the entire 2016-2017 bull run, Bitcoin price was supported by the <a href=\"https:\/\/wncen.com\/2019\/09\/27\/bye-bye-bull-run-bitcoin-price-daily-closes-under-vital-moving-average\/\">200-day moving average<\/a> and didn\u2019t close a candle below it. It was among the few indicators giving crypto investors hope that the recent triangle formation would break upward, causing Bitcoin to continue on its bullish rally.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/10\/04\/three-black-crows-bitcoin-monthly-chart-forms-ominous-reversal-pattern\/\">Three Black Crows: Bitcoin Monthly Chart Forms Ominous Reversal Pattern\u00a0<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">But the <a href=\"https:\/\/wncen.com\/2019\/09\/26\/bitcoin-price-breaks-below-8000-just-days-after-triangle-breakdown\/\">recent triangle formation broke down<\/a> instead, and much to the fears of bullish crypto traders, the 200-day moving average was broken below, with many consecutive candle closes below it. Bitcoin price made a pair of reattempts to get through it but was ultimately rejected back down to a local low around $7,700.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">After the most recent test of that low, Bitcoin price rocketed upward nearly $1,000 in a matter of a few days and is making its best attempt yet at breaking back above the 200-day moving average, and if it is able to close back above it, the correction may already be over.<\/span><\/p>\n<p>https:\/\/twitter.com\/walter_wyckoff\/status\/00000769<\/p>\n<p class=\"p1\"><span class=\"s1\">However, if Bitcoin cannot break above the <a href=\"https:\/\/www.investors.com\/how-to-invest\/investors-corner\/when-to-sell-stocks-200-day-moving-average\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">200-day moving average<\/a>, and is rejected, one crypto analyst jokingly suggests that ramen noodles \u2013 a mainstay of low-income college students \u2013 will be on the menu for some time to come.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">The 50-Day Moving Average And Potential Death Cross Approaches<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">If <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> can indeed get through, it\u2019ll have the 50-day moving average as the next obstacle it faces. The other notable moving average often used by crypto analysts, is currently resting at about $9,500 \u2013 a range that was heavily defended by bulls before the breakdown occurred.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But if Bitcoin price is rejected by the 200-day moving average, the 50-day moving average will begin to fall further, and draw closer and closer to making a <a href=\"https:\/\/wncen.com\/2019\/10\/05\/crypto-market-death-cross-inches-closer-will-the-bear-market-return\/\">death cross<\/a> \u2013 an occurrence where a short-term moving average falls below a long-term moving average, typically signaling the asset is a sell.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/10\/05\/crypto-market-death-cross-inches-closer-will-the-bear-market-return\/\">Crypto Market Death Cross Inches Closer, Will The Bear Market Return?<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">The last time the death cross occurred, was back in April 2018, and it resulted in over a year of a bear market before it crossed back up \u2013 making a golden cross \u2013 in April 2019 at the start of the parabolic rally.<\/span><\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Since the start of the week, Bitcoin price has rallied from a retest of lows around $7,700 to $8,700 \u2013 gaining over $1,000 in value during the short timeframe. The rise in Bitcoin price was also yet another retest of the asset\u2019s 200-day moving average, and what happens from here could determine the trend ahead. Will Bitcoin return to its bull market, or will the leading cryptocurrency by market cap fall further to find new lows, putting any chance at a bull market in jeopardy? Bitcoin Price Retests Recently Lost 200-Day Moving Average Throughout the entire 2016-2017 bull run, Bitcoin price was supported by the 200-day moving average and didn\u2019t close a candle below it. It was among the few indicators giving crypto investors hope that the recent triangle formation would break upward, causing Bitcoin to continue on its bullish rally. Related Reading | Three Black Crows: Bitcoin Monthly Chart Forms Ominous Reversal Pattern\u00a0 But the recent triangle formation broke down instead, and much to the fears of bullish crypto traders, the 200-day moving average was broken below, with many consecutive candle closes below it. Bitcoin price made a pair of reattempts to get through it but was ultimately rejected back down to a local low around $7,700. After the most recent test of that low, Bitcoin price rocketed upward nearly $1,000 in a matter of a few days and is making its best attempt yet at breaking back above the 200-day moving average, and if it is able to close back above it, the correction may already be over. https:\/\/twitter.com\/walter_wyckoff\/status\/00000769 However, if Bitcoin cannot break above the 200-day moving average, and is rejected, one crypto analyst jokingly suggests that ramen noodles \u2013 a mainstay of low-income college students \u2013 will be on the menu for some time to come. The 50-Day Moving Average And Potential Death Cross Approaches If Bitcoin can indeed get through, it\u2019ll have the 50-day moving average as the next obstacle it faces. The other notable moving average often used by crypto analysts, is currently resting at about $9,500 \u2013 a range that was heavily defended by bulls before the breakdown occurred. But if Bitcoin price is rejected by the 200-day moving average, the 50-day moving average will begin to fall further, and draw closer and closer to making a death cross \u2013 an occurrence where a short-term moving average falls below a long-term moving average, typically signaling the asset is a sell. Related Reading | Crypto Market Death Cross Inches Closer, Will The Bear Market Return? The last time the death cross occurred, was back in April 2018, and it resulted in over a year of a bear market before it crossed back up \u2013 making a golden cross \u2013 in April 2019 at the start of the parabolic rally. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":400979,"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":[428,679,6664,13574,56137],"class_list":["post-400970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-crypto","tag-death-cross","tag-moving-average"],"acf":[],"yoast_head":"\n<title>Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs<\/title>\n<meta name=\"description\" content=\"Since the start of the week, Bitcoin price has rallied from a retest of lows around $7,700 to $8,700 \u2013 gaining over $1,000 in value during the short\" \/>\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\/bitcoin-price-reclaiming-important-moving-average-could-lead-to-retest-of-highs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price: Reclaiming Important Moving Average Could Lead to Retest of Highs\" \/>\n<meta property=\"og:description\" content=\"Since the start of the week, Bitcoin price has rallied from a retest of lows around $7,700 to $8,700 \u2013 gaining over $1,000 in value during the short\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/bitcoin-price-reclaiming-important-moving-average-could-lead-to-retest-of-highs\/\" \/>\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=\"2019-10-09T22:00:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-10-09T20:14:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/bitcoin-price-moving-average-shutterstock_1064151254.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5520\" \/>\n\t<meta property=\"og:image:height\" content=\"3450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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