20 Day Simple Moving Average Predicts Monero Price Swings
I was on CryptoCompare Chart and noticed that when I added a 20 Simple Moving Average to the Monero chart, it pretty much predicted the move over the coming few weeks. Please pull up a 6 month chart to see trends over time. Note when Monero breaks the 20 day Simple Moving average on the downside with a spike in volume, one can expect the trend to follow in that direction for several more weeks. If Monero breaks the 20 day Moving average on the upside with a spike in volume one can expect the trend to follow in that direction for several weeks. I would include the chart, but I haven't mastered embedding an image within a post. I think the key to not get caught in a whipsaw is to have the move confirmed with volume. If you are holding Monero for the long term, then you can ignore these price movements through the 20 day Simple Moving average, but if you are a Trader, then this might be just the ticket to protecting your profits and preventing major losses.
Once the chart loads on the url above, just adding the 20 Day Simple Moving Average to the chart by clicking on the "No Indicator" and selecting the 20 Day Simple Moving Average and it will be added to the chart.