200 Day Moving Average switch from support to resistance

200 Day Moving Average switch from support to resistance

Bitcoin / Dollar BITFINEX:BTCUSD


Having lost respect for the 200 Day Moving Average by dropping under in early March, this trend line is now predictably acting as strong resistance. Expect further failed attempts to push above it over the coming months.

Add the Moving Average to your own chart to monitor Bitcoin’s progress…

Please give me a thumbs up if you agree. If you don’t, please write a comment explaining why? This analysis is for educational purposes only and not a recommendation to buy or sell. Always do your own research before trading.