Is Bitcoin Gonna See Another Big Drop Soon? Historical Trend May Say Yes – NewsBTC

The main benefit of an MA is that it evens out any local price fluctuations, and displays the trend as a smoother curve.

The below chart shows the trend in the 200-day and 600-day Bitcoin MAs over the past several years.

After staying some time in the region, the MAs crossed over each other and the crypto observed a large drop in its price.

Now, it looks like a similar pattern is starting to form this time as well.

Bitcoin showed some strong upwards momentum a couple of days back as it seemed to be approaching another retest of the $43k level.

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins.

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