Last week I wrote you that BTC silently crossed an important threshold. Just hours ago it VIOLENTLY crossed one that is likely even more important: the 200 week Experiential Moving Average (EMA for short). As you can see on this chart, BTC has quite perfectly been respecting the 200 EMA to the upside and the 200 MA to the downside every since our big drop last autumn:
What's the difference between the EMA and MA? MA weights the average price of all the past 200 weeks equally whereas the EMA weights the recent price points higher. If we can close this week above the 200 EMA and ideally open and close the next week above as well, I may finally be convinced that we made it alive trough the bear market. This may affect my strategy for the months to come.
Good luck to all of you and take care.
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