VIDEO:
Bullish crossovers occur when the short-term moving average (5-day moving average) crosses or cuts the long-term moving average (10-day moving average) from below.
A bullish 5-day moving average and 10-day moving average crossover, if confirmed during the overnight trade, would help bitcoin take out resistance at $4,209 (confluence of falling trend line and 61.8% Fibonacci retracement).
A move above $4,209 would improve the odds of bitcoin rallying to record highs. As discussed yesterday, only a drop below $3,465 (the September 17 low) would revive the bearish view.
Will Bitcoin Rise or Fall (Bear vs Bull)
So the whole bitcoin bear vs bill question is pretty interesting. In this video I answer will bitcoin rise or fall by looking at the bitcoin moving averages. Will bitcoin crash again? Of course it's possible, but when ?
Prediction: bitcoin hits 5k
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