Key Bitcoin chart ‘will confirm bottom is in’ by July 15, says trader
— Risk, Previous bear markets, Stood, Explained, Concluded — 1 min read
Bitcoin (BTC) is due to give a definitive signal that a macro bottom is in this month, one analyst has concluded. The 100-day moving average (MA) crossing the 200MA will act as a price floor signal. The crossover of the two MAs is due on or by July 15 — in just a week’s time — after which future trajectory should be confirmed. Should Bitcoin avoid major downside in the meantime, $17,600 will thus remain as the latest long-term BTC price bottom. Bitcoin/USD circled $20,500 at the time of writing on July 7, approaching wapproaching weekly highs. The 21-day MA, 50-month MA and 200-week MA stood at $21,570 and $22,560 respectively Source