Debit Suisse and SVB were the obvious beacons of attention last week, but something interesting was taking place meantime.
Bitcoin overcame another major hurdle on the path of the bullish operators. the 50 EMA (W) had been serving as support to a (now) confirmed uptrend, and the 50 EMA has just been demolished with above average volume and candle body size.
The momentum is bullish, the trend is now also bullish ...
But the not so great news is that bitcoin has another congested zone, where bears should be sitting right ahead of its current price, in the $30k-$35k range. Which doesn't leave the trading waiting for the last week's trigger with a juicy trade prospect from a risk to reward perspective.
Use this as you please.
Cheers,
Tenacious Tribe
Bitcoin overcame another major hurdle on the path of the bullish operators. the 50 EMA (W) had been serving as support to a (now) confirmed uptrend, and the 50 EMA has just been demolished with above average volume and candle body size.
The momentum is bullish, the trend is now also bullish ...
But the not so great news is that bitcoin has another congested zone, where bears should be sitting right ahead of its current price, in the $30k-$35k range. Which doesn't leave the trading waiting for the last week's trigger with a juicy trade prospect from a risk to reward perspective.
Use this as you please.
Cheers,
Tenacious Tribe
