{"id":405809,"date":"2019-11-29T18:00:36","date_gmt":"2019-11-29T18:00:36","guid":{"rendered":"https:\/\/ktsl888.com\/?p=405809"},"modified":"2019-11-29T17:00:42","modified_gmt":"2019-11-29T17:00:42","slug":"bitcoin-price-attempts-to-reclaim-mega-bull-run-moving-average","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-attempts-to-reclaim-mega-bull-run-moving-average\/","title":{"rendered":"Bitcoin Price Attempts to Reclaim \u2018Mega Bull Run\u2019 Moving Average"},"content":{"rendered":"<p><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> has been falling steadily for months now back into a deep downtrend, that&#8217;s putting the asset at risk of erasing all of the gains from the 2019 parabolic rally, and putting any chance of a new bull run in Bitcoin in jeopardy.<\/p>\n<p>However, if Bitcoin price can reclaim a very important moving average that last time around sent the leading crypto asset by market cap into a \u201cmega bull run,\u201d one analyst says it would be \u201cvery bullish\u201d and potentially lead to a repeat of another bull market for the asset and the rest of crypto.<\/p>\n<h2>Mega Pull Run Possible If Bitcoin Price Can Reclaim 2-Year Moving Average Multiplier<\/h2>\n<p><a href=\"\/tag\/bitcoin-price\" rel=\"nofollow\">Bitcoin price<\/a> has been in an ongoing bear market over the course of the last two years, even despite making a strong attempt at breaking out of it throughout the course of 2019.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/11\/28\/give-thanks-for-these-crypto-and-bitcoin-black-friday-deals\/\">Give Thanks For These Crypto and Bitcoin Black Friday Deals\u00a0<\/a><\/strong><\/em><\/p>\n<p>After the crypto asset bottomed out at $3,100 back in December of 2018, Bitcoin price had been on a steady climb upwards until it eventually met resistance just shy of a new all-time high, where it was rejected back into a downtrend.<\/p>\n<p>Following Bitcoin\u2019s fall through support at $6,000 in November 2018, it also fell below a 2-year moving average multiplier. In May, it then reclaimed the moving average multiplier, and it supported the crypto asset for the rest of its 2019 rally.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ Looks like Bitcoin is trying to get back above the 2yr MA after it dipped below it in the past week when price capitulated.<\/p>\n<p>Would be very bullish if we can get a few days closing back above that level.\u00a0 <\/p>\n<p>Until then, cautious optimism (as it was a promising capitulation). <a href=\"https:\/\/t.co\/nk1njCZusk\" rel=\"nofollow\">pic.twitter.com\/nk1njCZusk<\/a><\/p>\n<p>&mdash; Philip Swift (@PositiveCrypto) <a href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/64290048?ref_src=twsrc%5Etfw\" rel=\"nofollow\">November 29, 2019<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A retest of the moving average multiplier is right where BTC bounced to coincide with the China pump \u2013 news that the country would be supporting the blockchain technology many cryptocurrencies are built on.<\/p>\n<p><span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a><\/span> broke below the moving average multiplier once again recently and is now making yet another attempt at breaking back above it.<\/p>\n<p>If Bitcoin price reclaims the moving average multiplier, according to crypto analyst Philip Swift, it would be bullish for BTC, and could potentially send the crypto asset back into a new \u201cmega bull run.\u201d<\/p>\n<h2>Can History Repeat Itself Once Again For First-Ever Cryptocurrency?<\/h2>\n<p>In past <span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a><\/span> market cycles, after Bitcoin price retested and closed above the 2-year <a href=\"https:\/\/www.investopedia.com\/terms\/m\/movingaverage.asp\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">moving average<\/a> multiplier, it has \u201chistorically signaled the start of a mega bull run,\u201d and the analyst has shared a zoomed out price chart depicting the last two instances of such an event occurring.<\/p>\n<p>If Bitcoin price can hold above the moving average, the correction could come to an end, and the cryptocurrency could once again embark on a bull run, taking the price of the crypto asset to the enormous expectations of $100,000 per BTC or higher.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/2019\/11\/28\/should-bitcoin-investors-be-thankful-its-thanksgiving\/\">Should Crypto Investors Be Thankful It\u2019s Thanksgiving?<\/a>\u00a0<\/strong><\/em><\/p>\n<p>But if it doesn\u2019t, Bitcoin price\u2019s historical cycle could be broken, and the recent talk of <span class=\"s1\"><a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a><\/span>\u2019s bottom not actually being in, and the possibility of prices below $3,000 becomes very realistic.<\/p>\n<pre>Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price has been falling steadily for months now back into a deep downtrend, that&#8217;s putting the asset at risk of erasing all of the gains from the 2019 parabolic rally, and putting any chance of a new bull run in Bitcoin in jeopardy. However, if Bitcoin price can reclaim a very important moving average that last time around sent the leading crypto asset by market cap into a \u201cmega bull run,\u201d one analyst says it would be \u201cvery bullish\u201d and potentially lead to a repeat of another bull market for the asset and the rest of crypto. Mega Pull Run Possible If Bitcoin Price Can Reclaim 2-Year Moving Average Multiplier Bitcoin price has been in an ongoing bear market over the course of the last two years, even despite making a strong attempt at breaking out of it throughout the course of 2019. Related Reading | Give Thanks For These Crypto and Bitcoin Black Friday Deals\u00a0 After the crypto asset bottomed out at $3,100 back in December of 2018, Bitcoin price had been on a steady climb upwards until it eventually met resistance just shy of a new all-time high, where it was rejected back into a downtrend. Following Bitcoin\u2019s fall through support at $6,000 in November 2018, it also fell below a 2-year moving average multiplier. In May, it then reclaimed the moving average multiplier, and it supported the crypto asset for the rest of its 2019 rally. 1\/ Looks like Bitcoin is trying to get back above the 2yr MA after it dipped below it in the past week when price capitulated. Would be very bullish if we can get a few days closing back above that level.\u00a0 Until then, cautious optimism (as it was a promising capitulation). pic.twitter.com\/nk1njCZusk &mdash; Philip Swift (@PositiveCrypto) November 29, 2019 A retest of the moving average multiplier is right where BTC bounced to coincide with the China pump \u2013 news that the country would be supporting the blockchain technology many cryptocurrencies are built on. Bitcoin broke below the moving average multiplier once again recently and is now making yet another attempt at breaking back above it. If Bitcoin price reclaims the moving average multiplier, according to crypto analyst Philip Swift, it would be bullish for BTC, and could potentially send the crypto asset back into a new \u201cmega bull run.\u201d Can History Repeat Itself Once Again For First-Ever Cryptocurrency? In past Bitcoin market cycles, after Bitcoin price retested and closed above the 2-year moving average multiplier, it has \u201chistorically signaled the start of a mega bull run,\u201d and the analyst has shared a zoomed out price chart depicting the last two instances of such an event occurring. If Bitcoin price can hold above the moving average, the correction could come to an end, and the cryptocurrency could once again embark on a bull run, taking the price of the crypto asset to the enormous expectations of $100,000 per BTC or higher. Related Reading | Should Crypto Investors Be Thankful It\u2019s Thanksgiving?\u00a0 But if it doesn\u2019t, Bitcoin price\u2019s historical cycle could be broken, and the recent talk of Bitcoin\u2019s bottom not actually being in, and the possibility of prices below $3,000 becomes very realistic. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":405826,"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":[428,5233,6664,56137,55918],"class_list":["post-405809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bull-run","tag-crypto","tag-moving-average","tag-philip-swift"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Attempts to Reclaim \u2018Mega Bull Run\u2019 Moving Average<\/title>\n<meta name=\"description\" content=\"Bitcoin price has been falling steadily for months now back into a deep downtrend, that&#039;s putting the asset at risk of erasing all of the gains from the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/bitcoin-price-attempts-to-reclaim-mega-bull-run-moving-average\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Attempts to Reclaim \u2018Mega Bull Run\u2019 Moving Average\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price has been falling steadily for months now back into a deep downtrend, that&#039;s putting the asset at risk of erasing all of the gains from the\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-price-attempts-to-reclaim-mega-bull-run-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=\"2019-11-29T18:00:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-29T17:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/11\/bitcoin-price-bull-run-crypto-shutterstock_677036041.jpg?fit=4108%2C2739\" \/>\n\t<meta property=\"og:image:width\" content=\"4108\" \/>\n\t<meta property=\"og:image:height\" content=\"2739\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. 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. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.\",\"sameAs\":[\"https:\/\/coinchartist.io\/\",\"https:\/\/www.instagram.com\/coinchartist_io\/\",\"https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC\",\"https:\/\/www.youtube.com\/@coinchartist_io\"],\"url\":\"https:\/\/ktsl888.com\/author\/tonymspilotro\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Price Attempts to Reclaim \u2018Mega Bull Run\u2019 Moving Average","description":"Bitcoin price has been falling steadily for months now back into a deep downtrend, that's putting the asset at risk of erasing all of the gains from 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