Bitcoin has declined further since the last post, dropping down through the
weekly 200 simple moving average which is now resistance.
Price also declined below the $20,000 round number but has since moved
back above this level and is slowly creeping back towards the moving average.
This current move up does resemble a pullback, and if it is then we will likely
see a continuation to the downside.
Historically, a trend has usually followed a bounce off the weekly 200 simple
moving average so we will have to see if history is set to repeat itself.
There is nothing much to do with Bitcoin right now and the best position to
hold is standing aside until we start to see signs of bullish moves to long,
or bearish moves to go short.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
weekly 200 simple moving average which is now resistance.
Price also declined below the $20,000 round number but has since moved
back above this level and is slowly creeping back towards the moving average.
This current move up does resemble a pullback, and if it is then we will likely
see a continuation to the downside.
Historically, a trend has usually followed a bounce off the weekly 200 simple
moving average so we will have to see if history is set to repeat itself.
There is nothing much to do with Bitcoin right now and the best position to
hold is standing aside until we start to see signs of bullish moves to long,
or bearish moves to go short.
If you like enjoyed this post, make sure to like, and follow for more quality content!
If you have any questions or comments, comment below. We reply to every comment!
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
