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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