Bitcoin (BTC) and Bitcoin SV (BSV) are the only cryptocurrencies within the top 10 by market capitalization to have jumped back above their long-term moving averages.
The 200-day moving average (MA) is often regarded as a marker for bullish long-term health when prices are above and bearish long-term market health when prices reside below.
Bitcoin’s (BTC) 30 percent jump to 5-week highs from $7,393 to $10,350 over a 2-day period pulled prices back above the long-term moving average, marking a change in both momentum and sentiment for the world’s premiere crypto.
Bitcoin SV (BSV) already led the charge a day earlier, closing above the 200-day MA on Oct. 25.
Still, those moves are yet to be reflected in the remaining top 10 cryptos as the bulls struggle for supremacy from the consistent 4-month downward slide that began towards the end of June, 2019. Read More...