Bitcoin back above 200 DMA after measured move objective reached
When the fundamentals are inexplicable, sometimes there is some sense in the technicals...
The drop in BTC/USD over thep ast 5 days is a near-perfect measured move below the rising channel it had been in since March. The 30k level where the priced bounced yesterday found support from the February lows.
The price is now back at its 200-day moving average, which will one hurdle to overcome if the price is headed back to 50k again.
The drop in BTC/USD over thep ast 5 days is a near-perfect measured move below the rising channel it had been in since March. The 30k level where the priced bounced yesterday found support from the February lows.
The price is now back at its 200-day moving average, which will one hurdle to overcome if the price is headed back to 50k again.
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Market Analyst at WeTrade
wetradebroker.com/education/analysis/jasper/
Contributor to SpreadEx
spreadex.com/financials/news-analysis/weekly-technical-analysis/
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