100 day period exponential moving average has shown to be a legitimate support after 3 days. Making Bitcoin surge to its past resistance at 52k. As BTC surges, some strong altcoins follow similar pattern.
100 day period exponential moving average has shown to be a legitimate support after 3 days. Making Bitcoin surge to its past resistance at 52k. As BTC surges, many altcoin follows similar pattern.
Conclusion
BTC is currently showing a bullish reversal potential, now it depends on how it got rejected from the past resistance and how the consolidation after rejection behaves, this includes in whether BTC will make higher lows/higher highs/lower highs/lower lows. From there you can get a bit of a sense whether BTC is having a bullish consolidation or a bearish consolidation
On alts, we could measure their strong bullish momentum by measuring their Exponential Moving Average and Moving Average. Generally, this can be shown whether the coin has been exhausted or not or can is having a bullish reversal waiting to break the past resistance to have a further bullish outbreak like SRM as the good example that I point out in the article
