The crypto market has been on a very consistent bull trend for the last 5 months. This has changed recently with Bitcoin leading the bears out of hibernation. Yesterday, for the first time since October, the entire crypto market closed it’s daily candle below it’s 50 day EMA.
Investors should understand the risk of opening and holding long positions with this broad indicator turning bearish. This could be a temporary blip in an even longer bull run but it is now slightly more likely that we are indeed entering a bearish trend.
This is simply my analysis, not financial advice.
Investors should understand the risk of opening and holding long positions with this broad indicator turning bearish. This could be a temporary blip in an even longer bull run but it is now slightly more likely that we are indeed entering a bearish trend.
This is simply my analysis, not financial advice.