TradingShot
BITCOIN just hit the 1D MA50, first time in 1.5 months!
Bitcoin / U.S. Dollar (BITSTAMP:BTCUSD) 60975.00 -2631.09 -4.14%
TradingShot
3 hours ago
This is a quick short-term update on BTCUSD as the price hit the 1D MA50 (blue trend-line) for the first time since October 01 .
In doing so, it established the presence of a Channel Up (blue) that has been trading inside since the October 20 High. This gives rise to 2 scenarios:
a) Either the 1D MA50 holds and sustains the Channel Up whose upper break-out will eventually deliver a +/- $80000 test in December, or
b) It breaks below the 1D MA50 and the dashed Channel Up towards the 1D MA200 (orange trend-line) on an ultimate Support test that will give way to an even greater rebound towards $80000 in December, similar to the August and October rallies.