Another Rally For Bitcoin Due?
Bitcoin is currently going through a stagnant phase as it is moving sideways
and not moving much in either direction.
December 2020 to April 2021 was a good run for Bitcoin as it experienced
a move from $19,700 to over $64,800.
The decline that followed brought price to the 50 simple moving average.
The first contact was made in June then again in July.
The July move took price up to $52,000 with a nice clean move but a pullback
from early September followed this. Price has come close to the 50 simple
moving average this month but found support just above this indicator.
The 50 simple moving average is just around $40,000, strengthening this area
as a potential support level.
Bitcoin may still see another rally if price can find its footing at support and
build the momentum to then go on and create new all-time highs.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
and not moving much in either direction.
December 2020 to April 2021 was a good run for Bitcoin as it experienced
a move from $19,700 to over $64,800.
The decline that followed brought price to the 50 simple moving average.
The first contact was made in June then again in July.
The July move took price up to $52,000 with a nice clean move but a pullback
from early September followed this. Price has come close to the 50 simple
moving average this month but found support just above this indicator.
The 50 simple moving average is just around $40,000, strengthening this area
as a potential support level.
Bitcoin may still see another rally if price can find its footing at support and
build the momentum to then go on and create new all-time highs.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
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