Written in CRYPTO he
He Bitcoin (BTC) will have a bullish path? Do you have to have faith in this cryptocurrency? According to the trader, SantinoCripto, the digital asset is in a moment where it should bounce and have a significant rise.
Currently the cost of this digital currency reaches 27,000 dollars (301,204 pesos); however, according to projections the crypto It could grow and reach $35,000 (620,126 pesos) for two reasons.
The Bitcoin is just below the Exponential Moving Average (EMA) 20 and 50, and the last time this happened last March the price of the cryptocurrency had gains. For example, in the third month of the year these indicators crossed and there was a large increase in the digital currency, when it reached 31,000 dollars (549,254 pesos).
As stated by the traderAt the moment, the 20 daily EMA is close to crossing the 50 daily EMA to the downside, hence the market is waiting for a positive reaction to the cost of the asset.
What is the EMA and why is it so important for cryptocurrencies?
The Exponential Moving Average of 20 and 50 days, are a pair of indicators that are used for the analysis of cryptocurrencies and thus glimpse their movements in the market, the EMA is a variant of the simple moving average (SMA, for its acronym in English ) which assigns greater weight to recent data.
Can I fully trust these indicators?
Since any transaction, whether in the economic or cryptocurrency markets, the danger of losing capital is the only guarantee, then the EMA should only be taken as a reference indicator and not as a guarantee for profit, although there are traders who rely In these factors to make a profit, there are also other scenarios that directly affect cryptocurrencies.