This idea is about why EMA 200 is important for
BTC to maintain its uptrend on daily chart.
BTC price went below EMA 200 yesterday but managed to close just above it. Today price is staying mostly below it but if it manages to close above that would keep the uptrend intact based on EMA 200.
Significance of 200 EMA:
See the pictures below


Significance of 200 EMA:
- 13th October 2015: First major crossover towards upside
- 2nd August 2016: Went below for two consecutive days on Bitfinex hack but closed above EMA 200.
- 12th January 207: Bounced above 200 EMA
- March 25th 2017: Bounced from EMA 200
- April 15th 2017: Crashed below EMA 200 but close far far above it
- July 16th 2017: Bounced before touching EMA 200
See the pictures below
Note
Chances are we have seen the bottom (7500) at least in the short terms, there is every chance we close above EMA 200 todayNote
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.