Though this bounce is crypto has been subdued, we are seeing positive developments with Bitcoin (and many others).

200 Day Moving Average

There are dozens of moving averages you can use, but the more you zoom in the more it just becomes "noise." Thus, I generally just use the 200 day when charting crypto to help me establish a bull/bear case.

The average (see the blue line) was my target point when we were much higher as possible downside risk. We poked through it and price bounced back above.

Over the last couple days we got a small pullback too the 200 MA and as of the current daily candle price is rallying off of it. This is positive price action, pretty simple no rocket science here.

Bitcoin still has much work do to as we are still deep in a descending channel though. Maintaining above the 200 MA would be ideal.

alt