Blink and you can end up missing some big moves in Bitcoin which is taking on a
life of its own. This instrument was showing signs of weakness in May this year
where it fell to below $30,000 and hit the weekly 50 simple moving average.
In July, the buyers came back into the market and have pushed price up 79%
to where it currently stands at over $50,000.
Although the last 2 months have been bullish, price is still over $13,000 away
from the all-time high at $64,895 so there is still a bit of fight for the bulls
to overcome.
This current decline followed by the bounce could easily turn into a long-term
period of consolidation that could last for months and even years. Right now
though, the momentum could take price to record highs.
With Bitcoin on the move, you will notice that other coins are starting to move
too and Ethereum is another strong cryptocurrency. Bitcoin is seen as the main
cryptocurrency and the index for this market that shows us how this market
is performing overall.
We now want to see price breakout and rally through the rest of the year.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
life of its own. This instrument was showing signs of weakness in May this year
where it fell to below $30,000 and hit the weekly 50 simple moving average.
In July, the buyers came back into the market and have pushed price up 79%
to where it currently stands at over $50,000.
Although the last 2 months have been bullish, price is still over $13,000 away
from the all-time high at $64,895 so there is still a bit of fight for the bulls
to overcome.
This current decline followed by the bounce could easily turn into a long-term
period of consolidation that could last for months and even years. Right now
though, the momentum could take price to record highs.
With Bitcoin on the move, you will notice that other coins are starting to move
too and Ethereum is another strong cryptocurrency. Bitcoin is seen as the main
cryptocurrency and the index for this market that shows us how this market
is performing overall.
We now want to see price breakout and rally through the rest of the year.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
