Fatman3001
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July 02, 2015, 10:23:42 PM

Reloading at the 200 day SMA support--who's ready for some fireworks this weekend?

For a novice, and if you don't mind for sure, could you elaborate this for me please  Smiley

Quote
200 day SMA support

look at the blue line, that's the 200 day SMA.



SMA means "simple moving average". It's the average of the last 200 datapoints. So with daily resolution it shows the average of the last 200 days. Hence "200 day SMA".

It has been resistance or way above for the last year and we broke through it recently. Now it might act as support, as many hope.

If it does, the tides may be turning.

EDIT: changed screenshot to include time axis

I totally agree about support! BTC is gonna move onward and upward in an orderly fashion!
cheers Bulls !