The fun has likely just started for Bitcoin
Bitcoin finally crossed back over its 200 day simple moving average (SMA), which means big gains are likely coming.
Historically, when bitcoin crosses above it's 200 day moving average, big gains follow.
How big you might be wondering?
Well, according to our good friend Tom Lee, bitcoin sees close to 200% gains on average in the 6 months following a 200 SMA cross to the upside.
While averaging only 10% gains during the 6 months that bitcoin is below it.
Not only that, but when bitcoin crosses over its 200 day SMA, it has an 80% win rate.
Meaning that 8 out of 10 times the big move ends up playing out!
Check it out:
(Source: ~~~ embed:1222566246455160832) twitter metadata:ZnVuZHN0cmF0fHxodHRwczovL3R3aXR0ZXIuY29tL2Z1bmRzdHJhdC9zdGF0dXMvMTIyMjU2NjI0NjQ1NTE2MDgzMil8 ~~~
In summation...
To make things a little more clear...
When bitcoin crosses above its 200 day moving average it sees gains of roughly 200% in the following 6 months roughly 80% of the time.
Let that sink in for a bit.
If you are thinking about taking some profits right now, perhaps you better think again...
Stay informed my friends.
-Doc
That is good know. Always good see your updates on btc like this.
Thank you, glad they are helpful.
Looks like for BTC to cross $10K will happen sooner than later.
This would imply it crosses within the next couple months.
Love the perspective of BTC going to the moon!
Thanks for keeping us informed @jrcornel
$27k would be the price if this same pattern plays out.
That's nice, almost 200% up, from current price 😃
I like your update, try to buy back at 9.000
It's funny how when price is falling to $6k no one wants to buy it, now we are hoping for a dip to $9k. Funny how that works.
You are right
Thanks for this valuable post.
You are welcome.