Bitcoin Price Reaches Inflection Zone and 100 SMA Is The Key – Cryptonium


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Bitcoin Price Reaches Inflection Zone and 100 SMA Is The Key

The cryptocurrency market has been highly volatile over the past few months, with Bitcoin leading the way. Recently, Bitcoin price reached an inflection zone and its 100 Simple Moving Average (SMA) is now playing a key role in determining where it will go next.

In technical analysis, an inflection point occurs when there’s a sudden change in momentum or direction of the trend line of an asset’s price action. This can be seen as a sign that something significant is about to happen and traders use this information to make decisions on whether they should buy or sell their holdings.

When looking at Bitcoin’s chart over recent weeks, we can see that it has entered into what appears to be an inflection zone around $10k-$11k range; however, many analysts are cautious about taking any major positions until they get confirmation from other indicators such as moving averages (MAs). In particular, one MA which stands out right now is the 100 SMA – otherwise known as ‘the golden cross indicator.’

The golden cross indicator typically signals bullish sentiment when it crosses above another shorter-term MA such as 50 SMA – which happened recently for BTC/USD pair – but only if both MAs remain above long-term support levels like 200 DMA (day moving average). If these conditions are met then investors may have confidence to enter into new long positions expecting further upside potential from here onwards; however if either MAs fall below those support levels then shorting could become more attractive due cautionary concerns regarding bearish reversal patterns like head & shoulders etc.

All things considered though – despite some uncertainty surrounding future movements within this current range – overall sentiment still remains positive with most traders expecting prices break higher in upcoming days/weeks depending on how strong buyers continue being able push back against sellers near important resistance zones mentioned earlier ($10K-$11K). So keep your eyes peeled for any signs coming from 100 SMA because whatever happens next could potentially determine whether bulls or bears take control going forward!

Cryptonium Editors