Thank you for considering reading my idea.
We can say that these moving averages are lines of defense for Bitcoin . Whenever we break a moving average, we are supported by the next moving average. In this case, whenever we break the 20 day MA, 50 day MA is there to support us. Same when we break the 50 day MA, we get supported by the 100 day MA.
What is happening now is we just closed below 20 day MA yesterday. If we apply our theory that the next moving average will catch us, the 50 day MA is there at 52K . This does not mean that we will dip to 52K . As days go by, the 50 day MA will continue to go higher.
So watch out for the 50 day MA in the next few days if Bitcoin does not close above the 20 day MA.
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