{"id":402122,"date":"2019-10-23T15:01:18","date_gmt":"2019-10-23T15:01:18","guid":{"rendered":"https:\/\/wncen.com\/?p=402122"},"modified":"2024-06-11T13:31:24","modified_gmt":"2024-06-11T13:31:24","slug":"flash-crash-bitcoin-price-bull-run","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/flash-crash-bitcoin-price-bull-run\/","title":{"rendered":"Flash Crash Sends Bitcoin Price Below Key Moving Average"},"content":{"rendered":"
Ouch. Over the past few hours, Bitcoin has finally seen some volatility play out after a multi-week lull, plunging below $7,500 after holding in the low-$8,000s for days on end. Per previous reports from NewsBTC<\/a>, this move largely caught traders off guard, with there being a massive long liquidation event of over $200 million on BitMEX amid this crash.<\/p>\n While the selling pressure has paused, there are some technical signals that imply bearish continuation over the coming days.<\/p>\n Yesterday, analyst Philip Swift noted<\/a> that in the previous market cycle, Bitcoin followed a pattern of bottoming at the 200-week moving average, then seeing its first bull market rally to bottom at 100-week moving average.<\/p>\n Bitcoin seems to be doing the same this time around. But if the 100-week moving average is lost, a potential macro bear market or at least months more of consolidation could follow suit.<\/p>\n Surely it couldn't be this simple…could it?!<\/p>\n Shoutout to\u00a0@Pladizow<\/a> who pointed out price touching the 100W MA.<\/p>\n Live chart of the 200W MA plus heatmap is here: https:\/\/t.co\/7sTahKaJfy<\/a> pic.twitter.com\/cYfKxeGgXM<\/a><\/p>\n — Philip Swift (@PositiveCrypto) October 22, 2019<\/a><\/p><\/blockquote>\n\n