0
+
23,892
微信扫码分享

Bitcoin Price Soars While BTC's Technicals Make History

Jul 27, 2020 2:56:27 PM
PANews
Follow
Over the past year, the Golden and Death crosses have occurred a total of 4 times which has never happened before in BTC history.

(Figure 1) From October of 2019 to May of 2020, the 50D and 200D SMA have met a total of 4 times.

(Figure 1) From October of 2019 to May of 2020, the 50D and 200D SMA have met a total of 4 times.


Over the past year, Bitcoin’s technicals have done something that has never been done before in its over 10 year history. BTC’s 50D and 200D SMA have crossed over each other 4 times in less than a year with the 50D currently comfortably hovering above the 200D.

In trading, one of the most widely used technical indicators are the Simple Moving Averages. As the name suggests its simplicity allows traders to see if there is any signal indicating if a price of an asset is headed towards a bull or bear run. That signal has been characterized by the intersection of the 50D SMA and the 200D SMA due to their ease of recognition.

When the 50D SMA crosses upwards breaking through the 200D SMA, this is coined as a Golden Cross in hopes that the recent upward price trend will persist. And vice versa when the 50D SMA crosses downwards breaking through the 200D SMA, this is coined as a Death Cross as trader embrace for continued downward pressure on the price.

(Figure 2) The last time multiple crosses of the 50D and 200D SMA happened was right before BTC’s hyperbolic bull run of 2016 and 2017.

(Figure 2) The last time multiple crosses of the 50D and 200D SMA happened was right before BTC’s hyperbolic bull run of 2016 and 2017. 


The last time BTC’s 50D and 200D SMAs have intertwined with each other in such a short time frame was back in 2015 when it experienced 2 Golden Crosses and 1 Death Cross. And in retrospect, the Golden Cross that was witnessed on October 28, 2015 was a precursor to the hyperbolic bull run BTC experienced all the way up to December of 2017. Price went from $245 to around $19,600 constituting an 80x growth in a matter of 2 years.

Another instance of 3 crosses happened during the span from April 2014 to September 2014.

This time around, the most recent cross was a Golden Cross occurring on May 21st of this year. At press time, BTC’s price has forced its way past up the phycological $10,000 resistance level. With the Golden Cross happening back in May and BTC’s price finally above $10,000 again all on the back drop of BTC’s third halvening, is this the time when we finally see BTC’s price make another hyperbolic bull run?

PANews
Follow
评论

Selected Collections

0views
0pieces
The thunderstorm incident of FCoin
0views
0pieces
Central Bank Digital Currency DCEP Launched
Central Bank Digital Currency DCEP Launched
0views
0pieces
Stable Currency
Stable Currency Stable Currency
0views
0pieces
2019 Consensus
2019 Consensus 2019 Consensus
Disclaimer
Website Usage Terms & Conditions

Introduction

Welcome to our website terms of use for PANONY website. Our website terms of use are important as they contain all the information you need to know about using our services, so please take a little time to read them and if you have any questions, please do not hesitate to contact info@panony.com and we will do our best to answer your questions.

Accessing and using our Website

Access to our Website is permitted on a temporary basis and we reserve the right to suspend, withdraw, discontinue or change any part of our Website, including the availability of any content, without notice. We will not be liable to you if for any reason our Website is unavailable at any time or for any period.

You are responsible for ensuring that all persons accessing our Website through your connection are aware of these Terms and that they comply with them. Where you are provided with a user ID, password or any other piece of information as part of our security procedures you must treat such information as confidential and you must not disclose it to any third party. We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms.

The content on our Website is provided for information only. Although we make reasonable efforts to update the information on our Website, we make no representations, warranties or guarantees, whether express or implied, that the content on our Website is accurate, complete or up-to-date.

In accessing any part of our Website, you agree not to:

use our Website in such a way that disrupts, interferes with or restricts the use of our Website by other users;

use our Website for any activities which breach any laws or regulations or infringe any third party rights;

use the personal information of another person in order to access or use our Website;

remove, obscure, or alter any copyright notices, trademarks, or other proprietary rights notices of ours or any third party;

decompile, reverse engineer, disassemble, copy or adapt any software or other code or scripts forming part of our Website;

transmit any viruses, Trojans, worms, logic bombs or other material which is malicious or technologically harmful through our Website.

Our content

Our content, trademarks, copyright, patents, logos, domain names and other related intellectual property rights or other features of our brand belong to us or to our licensors. Your use of our Website does not grant you any rights in our and/or our licensor’s intellectual property whether for commercial or non-commercial use.

We grant our users a licence to access and use our services and intellectual property rights (subject to your ability to access our services as set out above) and to the following usage restrictions:

you may use our services for personal, private and non-commercial purposes; and

you must not commercially exploit, or sell any content appearing on our services (this does not apply to any user content posted by you and in which you retain ownership rights, see paragraph on user generated content below).

If you wish to use or reproduce any of our content, please contact our Syndication team on info@panony.com and they will gladly assist you or your organisation.

Links to third party websites

Our Websites may include links to third party internet websites which are controlled and maintained by others. These links are provided for information and convenience and we have no control over and cannot therefore accept responsibility or liability for the content of any linked third party website. We do not endorse any linked website.
Got it
User Agreement
Website Usage Terms & Conditions

Introduction

Welcome to our website terms of use for PANONY website. Our website terms of use are important as they contain all the information you need to know about using our services, so please take a little time to read them and if you have any questions, please do not hesitate to contact info@panony.com and we will do our best to answer your questions.

Accessing and using our Website

Access to our Website is permitted on a temporary basis and we reserve the right to suspend, withdraw, discontinue or change any part of our Website, including the availability of any content, without notice. We will not be liable to you if for any reason our Website is unavailable at any time or for any period.

You are responsible for ensuring that all persons accessing our Website through your connection are aware of these Terms and that they comply with them. Where you are provided with a user ID, password or any other piece of information as part of our security procedures you must treat such information as confidential and you must not disclose it to any third party. We have the right to disable any user identification code or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms.

The content on our Website is provided for information only. Although we make reasonable efforts to update the information on our Website, we make no representations, warranties or guarantees, whether express or implied, that the content on our Website is accurate, complete or up-to-date.

In accessing any part of our Website, you agree not to:

use our Website in such a way that disrupts, interferes with or restricts the use of our Website by other users;

use our Website for any activities which breach any laws or regulations or infringe any third party rights;

use the personal information of another person in order to access or use our Website;

remove, obscure, or alter any copyright notices, trademarks, or other proprietary rights notices of ours or any third party;

decompile, reverse engineer, disassemble, copy or adapt any software or other code or scripts forming part of our Website;

transmit any viruses, Trojans, worms, logic bombs or other material which is malicious or technologically harmful through our Website.

Our content

Our content, trademarks, copyright, patents, logos, domain names and other related intellectual property rights or other features of our brand belong to us or to our licensors. Your use of our Website does not grant you any rights in our and/or our licensor’s intellectual property whether for commercial or non-commercial use.

We grant our users a licence to access and use our services and intellectual property rights (subject to your ability to access our services as set out above) and to the following usage restrictions:

you may use our services for personal, private and non-commercial purposes; and

you must not commercially exploit, or sell any content appearing on our services (this does not apply to any user content posted by you and in which you retain ownership rights, see paragraph on user generated content below).

If you wish to use or reproduce any of our content, please contact our Syndication team on info@panony.com and they will gladly assist you or your organisation.

Links to third party websites

Our Websites may include links to third party internet websites which are controlled and maintained by others. These links are provided for information and convenience and we have no control over and cannot therefore accept responsibility or liability for the content of any linked third party website. We do not endorse any linked website.
Disagree
Agree
Free-Login
Login
Login with social media accounts