What is the 200 wma of Bitcoin and how does it affect its price?

3 answers

• Nov 26, 2021 · 3 years ago
  The 200 wma of Bitcoin refers to the 200-day weighted moving average of the cryptocurrency's price. It is a technical indicator used by traders and investors to analyze the long-term trend of Bitcoin. The 200 wma is calculated by taking the average price of Bitcoin over the past 200 days, with more weight given to recent prices. This moving average is considered significant because it smooths out short-term price fluctuations and provides a clearer picture of the overall trend. When the price of Bitcoin is above its 200 wma, it is often seen as a bullish signal, indicating that the cryptocurrency is in an uptrend. Conversely, when the price is below the 200 wma, it is considered bearish, suggesting a downtrend. The 200 wma can influence market sentiment and investor behavior as it is widely followed by traders and can act as a support or resistance level for the price of Bitcoin.
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• Nov 26, 2021 · 3 years ago
  The 200 wma of Bitcoin is a technical indicator that measures the average price of the cryptocurrency over the past 200 days. It is used by traders and investors to identify the long-term trend of Bitcoin and make informed trading decisions. When the price of Bitcoin is above its 200 wma, it is generally considered bullish, indicating that the cryptocurrency is in an uptrend. On the other hand, when the price is below the 200 wma, it is seen as bearish, suggesting a downtrend. The 200 wma can act as a support or resistance level for the price of Bitcoin, meaning that it can provide a barrier for the price to break through. This indicator is important because it helps traders gauge the overall market sentiment and make predictions about future price movements.
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• Nov 26, 2021 · 3 years ago
  The 200 wma of Bitcoin is a technical indicator that measures the average price of the cryptocurrency over the past 200 days. It is widely followed by traders and investors as a way to identify the long-term trend of Bitcoin. When the price of Bitcoin is above its 200 wma, it is generally considered bullish, indicating that the cryptocurrency is in an uptrend. Conversely, when the price is below the 200 wma, it is seen as bearish, suggesting a downtrend. The 200 wma can act as a support or resistance level for the price of Bitcoin, meaning that it can provide a barrier for the price to break through. It is important to note that the 200 wma is just one of many indicators used in technical analysis, and it should be used in conjunction with other tools and strategies to make informed trading decisions.
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