BTC/USD, Technical Outlook, Edition #133 (25/10/2021)

Q launches into the fresh trading week with a cracker report 😲 Don't miss the latest technical forecasts and chart analysis for the Big Dog of Crypto - Bitcoin πŸ‘‡

Love is in the air as Bitcoin slow dances with EMA

Q muses Bitcoin’s love affair with the daily 20 EMA (D1 20 Exponential Moving Average).

Quick Guide: D1 20 Exponential Moving Average

The Exponential Moving Average is a variation of the Moving Average (MA) technical indicator.

The calculation of the EMA is weighted towards recent prices and generally considers these data points to be more significant within the given period.

Chartists commonly denote the given period when abbreviating the indicator.

In this case, the D1 20 EMA simply refers to:

D1 = Daily, 24-hour period

20 = 20 Days

EMA = Exponential Moving Average

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To a certain extent, employing the 20 EMA in some form or other are much akin to Fibonacci retracements - i.e. some perceive them to be no more than a self-fulfilling prophecy. 

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