/biz/ - Business & Finance

>>2019412

The blue line is the 50 day moving average of BTC's price. The 4 highlighted white circles are the relative tops of the last bubbling-up periods (excluding the SEC-driven event which was just weird).

At all of these points, the gap between the 50 day moving average and the current price had gotten sizeably large. However, looking at this on a non-log chart is somewhat disingenuous, so I ran some quick back-of-the-envelope calculations on prior bubbles and their percentage distance from the 50DMA at peak.

Nov 2015: 77% above DMA
Jun 2016: 41% above DMA
Dec 2016: 32% above DMA
currently: 23% above DMA

So there could still be ample room to run, but at this point the risks are increasing to the downside and we've already seen the beginnings of a correction.