Bitcoin The Guppy Multiple Moving Average indicator is preparing to issue a red signal indicating strengthening downward momentum.
The technical analysis indicator, which returned to a bull market in mid-October and took Bitcoin’s multi-week price increase to 70%, is preparing to give a bear signal to trend-following investors.
When the green band rises above the red band, a trend change from a bull market to a bear market occurs. When the green band falls below the red band, there is a change in the bear trend. Most investors generally follow the trend, preferring to enter when a crossover appears and hold in the direction of the long-term trend.
In recent days, the GMMA indicator looked ready to make a bear crossover, with the green band almost moving below the red band. In other words, these results and the indicator show an increasing bear trend again.
Bitcoin has traded well below the red band in recent days, changing hands for $39,200 on major exchanges.