What is the 50 week average, and why is everyone watching 75,580 dollars? 📚
A moving average is simply the average price over a set period, and the 50 week average takes the last 50 weekly closes, about a year of Sundays, and draws one line. 💡 Yahoo Finance puts Bitcoin's 50 week simple moving average near 75,580 dollars, and Bitcoin is sitting right on it tonight, while Adalytica notes Bitcoin is still far below its shorter 50 day average of 81,975 dollars. My rule is simple, a weekly close above the line keeps the long term trend alive, a weekly close below it says the trend has broken, and a wick through it means nothing until Sunday closes. That is why tonight matters more than any hourly candle, because the close is the verdict and the wick is only noise.
Do you trade the average itself, or wait for the Sunday close to confirm it? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoEducation
A moving average is simply the average price over a set period, and the 50 week average takes the last 50 weekly closes, about a year of Sundays, and draws one line. 💡 Yahoo Finance puts Bitcoin's 50 week simple moving average near 75,580 dollars, and Bitcoin is sitting right on it tonight, while Adalytica notes Bitcoin is still far below its shorter 50 day average of 81,975 dollars. My rule is simple, a weekly close above the line keeps the long term trend alive, a weekly close below it says the trend has broken, and a wick through it means nothing until Sunday closes. That is why tonight matters more than any hourly candle, because the close is the verdict and the wick is only noise.
Do you trade the average itself, or wait for the Sunday close to confirm it? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoEducation
