{"id":169276,"date":"2023-01-29T01:30:00","date_gmt":"2023-01-29T09:30:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=169276"},"modified":"2023-01-28T22:41:04","modified_gmt":"2023-01-29T06:41:04","slug":"bitcoin-testing-200-week-moving-average","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/bitcoin-testing-200-week-moving-average\/","title":{"rendered":"Bitcoin Testing 200-week Moving Average"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Bitcoin Futures<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/www.investing.com\/crypto\/bitcoin\" target=\"_blank\" rel=\"noreferrer noopener\">Bitcoin futures<\/a>\u00a0<\/strong>testing 200-week moving average. During the week, the price increased +4.15% of its value. Tuesday is the last day of the month; So far, the Bitcoin price is up in January by +39.85%. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitcoin futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap.png\" alt=\"Bitcoin Testing 200-week Moving Average and 8\/15 Gap on Weekly Chart\" class=\"wp-image-169410\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Analysis<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>This weekly candlestick is a bull bar with a prominent tail above. It is the third consecutive bull bar. <\/li>\n\n\n\n<li>During the <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-bull-reversal\/\" data-type=\"URL\" data-id=\"https:\/\/www.brookstradingcourse.com\/analysis\/bitcoin-bull-reversal\/\" target=\"_blank\" rel=\"noreferrer noopener\">previous report<\/a>, I have said that the most likely outcome was another bull bar this week, and that is what happened. <\/li>\n\n\n\n<li>The bars are decreasing in size, which denotes a loss of momentum; thus, there will be probably a pullback starting during the next 1\u20133 bars.<\/li>\n\n\n\n<li>As I have been saying since June, the dominant market cycle on this timeframe is a Trading Range. During Trading Ranges, the gaps tend to close. Currently, the price is approaching and testing 200-week moving average and the August 15th gap.<\/li>\n\n\n\n<li>The most important gap is probably the 2021 June low.<\/li>\n\n\n\n<li>Between the August 15th high and the 2021 June low, the price should experience strong resistance and therefore, a leg sideways to down will be likely formed. <\/li>\n\n\n\n<li>Nowadays, the price is either:\n<ul class=\"wp-block-list\">\n<li>Bull case: A bull leg in a trading range is underway. The principal target for the bulls is to end the bear inertia before there is a new low. Technically, if the bulls get to the prior major lower high at $32455, the bear trend will be over. Trading around $30000 will mean that bulls buying and scaling in lower are making money, so they buy again below fresh lows.<\/li>\n\n\n\n<li>Bear case: There are strong resistances above and the bears will try to sell there, expecting to get a new low. <\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Since the previous bars are decreasing in size, a pullback is expected starting during the following 1 to 3 weeks. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls: Current bar is a weak buy signal bar since it has a prominent tail above. The resistances above are strong, and bulls might wait to buy after a pullback and a double bottom or higher low. <\/li>\n\n\n\n<li>Bears: Bears will try to sell around the resistances that the price will face between $25000 and $30000. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> chart of Bitcoin futures<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-daily-parabolic-wedge-at-200-day-1.png\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-daily-parabolic-wedge-at-200-day-1.png\" alt=\"Bitcoin daily chart Parabolic Wedge Top and ioi at 200-day MA\" class=\"wp-image-169413\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-daily-parabolic-wedge-at-200-day-1.png 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-daily-parabolic-wedge-at-200-day-1-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-daily-parabolic-wedge-at-200-day-1-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-daily-parabolic-wedge-at-200-day-1-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-daily-parabolic-wedge-at-200-day-1-1536x864.png 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Analysis<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>During the week, the price formed a parabolic wedge top and an ioi pattern. <\/li>\n\n\n\n<li>An ioi pattern after a parabolic wedge top it is probably a final flag. <\/li>\n\n\n\n<li>Furthermore, there are consecutive ioi patterns which suggest that the price might experience some sideways trading during the upcoming weeks.<\/li>\n\n\n\n<li>A parabolic wedge is a pattern that indicates exhaustion; the price is far from the 20-day exponential moving average, and hence, it might be tested during a hypothetical pullback. The November 4th high might act as support.<\/li>\n\n\n\n<li>But the bull leg is strong enough for traders to expect a test of the highs at some point into the future.<\/li>\n\n\n\n<li>Nowadays, the price is either:\n<ul class=\"wp-block-list\">\n<li>Bull case: Spike and channel bull trend. The price will experience a pullback that will fail, and the price will create higher lows and higher highs, channeling up. <\/li>\n\n\n\n<li>Bear case: Bears hope that the market cycle is in a Trading Range instead of a Bull Trend, thus, after this bull leg it will come a strong bear leg.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>Traders should expect sideways to down trading starting soon. <\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Trading<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Bulls: Bulls will probably wait to buy until a couple of legs down, to test the strength of the bears. <\/li>\n\n\n\n<li>Bears: Bears might have sold below the ioi pattern. It was not a strong pattern because the signal bar was a bull bar, so they might wait to sell correctly below a bear bar closing on its low.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Bitcoin Futures Bitcoin futures\u00a0testing 200-week moving average. During the week, the price increased +4.15% of its value. Tuesday is the last day of the month; So far, the Bitcoin price is up in January by +39.85%. Bitcoin futures The Weekly chart of Bitcoin futures Analysis Trading The Daily chart of Bitcoin futures Analysis [&hellip;]<\/p>\n","protected":false},"author":7271,"featured_media":169410,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1904,136],"tags":[223,324,1908],"class_list":["post-169276","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","category-analysis","tag-bitcoin","tag-cryptocurrency","tag-testing-resistance","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/bitcoin-weekly-test-200-ma-and-gap.png","author_info":{"display_name":"Josep","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/cnjoseluis10gmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/169276","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/7271"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=169276"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/169276\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/169410"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=169276"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=169276"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=169276"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}