Confirming the Bitcoin and BTC crossbar strategy, the strong upper trend signal: technical analysis

This is a daily technical analysis by Coindsk analyst and omkar Godobile legal technician.

Imagine two main newspapers supporting the same presidential candidate. Joint support indicates that the candidate may have wide support.

Likewise, when you plan the price for both bitcoin BTC$102,247.50 The strategy (MSTR)-the largest BTC holder listed in the general list-shows simultaneous ups in the upscale, and it is likely that there is a strong sign that the market and the main institutional players are aligned.

Daily plans for the prices of BTC and MSTR are offered simple averages for 50 days (SMA) crossing over SMA for 100 days to confirm the so -called bullish intersection. It is a sign that the short -term trend outperforms the long -term direction, which can be a sign of the start of the main emerging market.

The BTC’s Bull Cross is in line with other indicators such as MACDThis indicates a less resistant path on the top side.

However, a temporary decrease can not be excluded less than $ 100,000, as the data on the series shows that participants in the influential market have become careful.

The graph shows that the BTC price rally has stopped in the range of 101,000-107,000 dollars. The negative side break can achieve more profits, which may deepen the bull market to support it by $ 98,000.