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Historically, the 200 MA is very important for Bitcoin

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jrcornel
79
4 months agoBusy

Bitcoin has behaved very well any time it is above it's 200 day moving average.

In fact, it has an 80% win rate versus only a 36% win rate when prices are below the 200 day moving average.

That means that 80% of the days close green.

More about that can be seen here:

https://steemit.com/bitcoin/@jrcornel/bitcoin-is-above-it-s-200-ma-that-means-an-80-win-rate-and-200-returns-are-on-the-horizon

However, you don't even need to dive into the statistics to see how nicely it behaves...

Just look at the chart.

Here we have a chart of bitcoin over the past several years:

(Source: https://twitter.com/kenoshaking/status/1114426695598190592)

Pay special attention to when bitcoin's price is above the 200 day moving average.

It happened back in early 2012 and prices stayed above it till early 2014. Then it happened again in early 2015 and prices stayed above it till late 2017.

In both cases prices trended up for over 2 years.

If history were to repeat right now as bitcoin is sitting above its 200 MA for the first time in over a year, we are looking good from now over the course of the next 2-3 years.

Not sure about you, but that sounds pretty good to me!

Stay informed my friends.

-Doc

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