Quick Take
- Bitcoin is currently trading between 111DMA ($26.9k) and 200 WMA ($26.4k).
- According to Glassnode,
- The 111-Day Simple Moving Average, when used within the Pi-Top Oscillator, captures short-mid term market momentum.
- The 200-Week Simple Moving Average (200WMA) provides a tool for capturing the baseline momentum of a classic 4-year Bitcoin Cycle.
- A similar setup occurred in 2015, as shown in the second chart.
- Both cycles saw Bitcoin briefly fall below the 200WMA.
- Presently, Bitcoin has reclaimed the 200WMA and tested the 111DMA.
The post Bitcoin trading in a tight range, but reclaims 200 WMA appeared first on CryptoSlate.
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