Bitcoin corrected back down to the 20 week moving average (MA) last week. It was able to stay above the 20 week MA at weekly close, but now the question remains if it can continue to stay thus bullish. In order for Bitcoin to stay above the 20 week MA, it will need to at the very least slowly move up, otherwise, the 20 week MA will overtake the price. Historically, falling below the 20 week MA does not yield a good short-term future for the price of BTC. In this video we discuss the various possibilities again, and expand on what we may expect if the 20 week MA does hold as support. TA Video by Benjamin Cowen.
