The price of bitcoin has started to go up, it has not yet broken the resistance of $ 11000 and we will see possible upward targets or going down the price
Today I will do an analysis of the crosses of the Mobile Lines of 21 periods and 50 periods weekly
Let's see
Sometimes you have to see what happened in the past to estimate what might happen with the price.
What has happened in these last weeks
As we will see in the graph, the price of Bitcoin has been maintained for months by an upward trend above the mean line of 21 periods weekly chart
It is natural that when this happens, the price is lateralized for a time or some correction occurs. As it has done in the last months
Analysis of the Weekly Golden Crosses from the 21-period MA midline to the 50-period MA
If we see in the graph the crossing of the lines, they have indicated the beginning of bullish cycles or correction
We can see crosses on the rise in the years 2012, 2015, 2019
We can see crosses to the downside in the year 2014, 2018, 2020
In August we saw a new cross, upward, from the line of 21 to the 50-period Weekly Chart.
Other Keys
The price in the last weeks has tested the MA line of 21 periods but has not broken it (good sign)
As we can see in the graph, the means are ordered first the MA of 21 after the MA 50, then the 150 and the 200 periods
Conclusion
That the cross has occurred months ago and the price remains above the 21-period MA are 2 good signs that it may be that we are starting the bullish cycle of Bitcoin as it has already done in 2012 and 2015, which led to Bticoin to new highs.
Lately we see more bullish indicators, than those that indicate a correction
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Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
We will continue monitoring
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