The crypto market has begun to demonstrate signs of new momentum as bitcoin slightly recovered to over $5,200 and other major crypto assets like Ethereum and EOS recorded large gains on the day. According to trader Jonny Moe, bitcoin is close to breaking the 200-day simple moving average (SMA) cross for the first time since October 2015.SMA is considered as a key technical indicator to determine the long-term trend of an asset or a market. ARE BITCOIN AND CRYPTO LOOKING TOWARD ACCUMULATION PHASE? After bitcoin broke out of the 200-day SMA cross in 2015, it went on to experience a prolonged accumulation phase. From ... (full story)