GlenGoodman
Long

Bitcoin UP, Cryptos DOWN. Blame the golden cross.

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Suddenly Bitcoin's breaking away from all the other major cryptos. They're sliding, Bitcoin's still just about holding its ground. Why?

The only reasonable explanation is that Bitcoin has just made a golden cross for the first time since 2015. In other words, the 50-day moving average has crossed upwards through the 200-day moving average. Some traders see this as an immensely significant event and doubtless are buying Bitcoin as a result. This is keeping BTC afloat, at least for now. But it still faces strong resistance now at around $6000, as this is the level where it started plunging downwards last November. I remain long, but cautious, with a tight stop-loss.
THE CRYPTO TRADER: How anyone can make money trading Bitcoin and other cryptocurrencies

Published by Harriman House.

This link should take you to your local Amazon site.

http://getbook.at/TheCryptoTrader
Love your ideas
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GlenGoodman Andrew_Kay
@Andrew_Kay, Thanks, mate!
+1 Reply
Let's see how it goes!



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