Coinmarketology’s latest report considers the findings put forward by a popular crypto analyst in a recent strategy session on the correlation between Bitcoin’s past bull markets and changes in its 200-day simple moving average.
In the new report, readers will also learn how large shifts in indicators such as simple moving averages, or SMAs, can be used to help investors to make more informed choices regarding their assets.
Investing in cryptocurrencies is a challenging occupation, and learning how to watch for changes in the market is crucial for knowing when to buy or sell assets. In this regard, finding indicators that suggest when a bear or bull market may occur can be highly beneficial. As Coinmarketology’s latest report suggests, SMAs could be a reliable predictor of market changes.
The report explains that all of the past BTC bull markets have had a price crossing above Bitcoin’s 200-day simple moving average. This presents a possibility for investors to use this historical data when they are making trade decisions, such as how long it could be until the next bull market may begin.
Coinmarketology’s report also highlights the analyst’s suggestions that the SMA indicator predicts the next spike for BTC will occur in June 2023. Prior to this scenario, however, the analyst warns of a new “bear market low” in the preceding months.
As an online resource for cryptocurrency news and information, Coinmarketology has a wide selection of articles and reports covering all aspects of the blockchain industry, such as Web 3.0, NFTs, and crypto products. The site also features a live tracker for several leading crypto assets, including Bitcoin, Cardano, Dogecoin, Ethereum, and Solana.
When speaking of using bear market indicators to inform trade actions, the report states, “While the strategy is simple, watching for a break of the 200-day SMA will be one of the key signals to keep an eye on before flipping bullish on BTC.”
Interested parties can find more information by visiting https://coinmarketology.com/
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
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