{"id":382522,"date":"2019-05-16T08:30:23","date_gmt":"2019-05-16T08:30:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=382522"},"modified":"2019-05-16T06:47:46","modified_gmt":"2019-05-16T06:47:46","slug":"moving-averages-will-be-key-in-bitcoins-next-move-what-are-the-btc-pullback-prices","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/moving-averages-will-be-key-in-bitcoins-next-move-what-are-the-btc-pullback-prices\/","title":{"rendered":"Moving Averages Will Be Key In Bitcoin\u2019s Next Move, What Are The BTC Pullback Prices?"},"content":{"rendered":"

Nobody could have predicted what has happened to Bitcoin over the past month. A break past $4,200 was inevitable, but a surge past $8,000, doubling its price, has shocked the nascent crypto space. Where BTC goes next will be paramount and moving averages will play a big role as they have done before.<\/p>\n

Correction is Coming<\/h2>\n

Markets always correct and now that the ice from the crypto winter has finally melted, investors and traders will be looking for new entry points. Technical indicators are all flashing over bought for Bitcoin at the moment. For the third day in a row BTC hit a new high for the year. Just a few hours ago during Asian trading Bitcoin touched $8,320 adding over 5 percent on the day.<\/p>\n

Daily volume is still holding record levels<\/a> at over $30 billion and the parabola<\/a> has extended on Bitcoin charts. It has even become something of a joke on crypto twitter;<\/p>\n

https:\/\/twitter.com\/MoonOverlord\/status\/34399744<\/p>\n

As we know from previous market cycles this action cannot be sustained and Bitcoin will fall back, guaranteed. When it does there will be an influx of buyers loading up on what could be its lowest price for quite a while.<\/p>\n

During the bull run of 2017 Bitcoin pulled back and tested the longer term moving averages several times. Long term trader \u2018CryptoFibonacci\u2019 has charted this showing the points where BTC returned to support at the MA levels; \u201cThings will retrace and test the moving averages.\u00a0 Count on it!\u201d<\/p>\n

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$BTC<\/a> Daily moving average Chart.<\/p>\n

Things will retrace and test the moving averages. Count on it!#BTC<\/a> #bitcoin<\/a> pic.twitter.com\/9uXf1huLdR<\/a><\/p>\n

— CryptoFibonacci (@CryptoFib) May 16, 2019<\/a><\/p><\/blockquote>\n