Bitcoin Simple Moving Averages and Fibonacci

When there are no traditional fundamentals to value an asset, technical analysis can provide more insight than people realize. Notice how some simple moving averages and Fibonacci retracement levels have acted as both support and resistance during the recent volatility. The daily chart above shows how the late December selloff in Bitcoin saw a sharp … Read More

Direction Of Moving Averages – Technical Analysis

In a blog post on Tuesday, I mentioned We objectively noted that the direction of a key moving average is more important than one or two closes above or below it. This statement was made in reference to the bearishness expressed by many when, just 2 1/2 weeks earlier, the $SPY closed below the advancing … Read More

Is The S&P 500 Closing in on Resistance?

Twelve days ago the $SPY made its second close below the advancing 200 day moving average. Amateur technicians spoke in unison about the bearishness of this event. We objectively noted that the direction of a key moving average is more important than one or two closes above or below it. From that intraday low to … Read More

Is the "Death Cross" Bullish?

The “Death Cross” is a supposedly bearish event which is characterized by the 50 day moving average crossing down through the 200 day moving average. When a market experiences a “death cross” it is supposed to be a negative for the market going forward. WHen the 50 day MA undercut the 200 day MA in … Read More