#BTC For educational purposes and self-reliance :
We are looking at the same chart but on two different timeframes: weekly and daily.
On the weekly timeframe , we have a red line called the EMA50 (Exponential Moving Average 50).
You can add it to your chart. If Bitcoin on the weekly timeframe moves above it, it often indicates a potential trend reversal and a shift into a bullish (upward) trend.
For confirmation, we go to the daily timeframe. Here you also add the EMA50, and additionally the EMA200.
If these two moving averages cross and the candles move above them, this is known as a “golden cross.” So far, this has not happened yet.
And that’s it -you now have a basic way to understand Bitcoin’s long-term trend direction.#bitcoin $BTC
We are looking at the same chart but on two different timeframes: weekly and daily.
On the weekly timeframe , we have a red line called the EMA50 (Exponential Moving Average 50).
You can add it to your chart. If Bitcoin on the weekly timeframe moves above it, it often indicates a potential trend reversal and a shift into a bullish (upward) trend.
For confirmation, we go to the daily timeframe. Here you also add the EMA50, and additionally the EMA200.
If these two moving averages cross and the candles move above them, this is known as a “golden cross.” So far, this has not happened yet.
And that’s it -you now have a basic way to understand Bitcoin’s long-term trend direction.#bitcoin $BTC