Bitcoin breaks through the 50 day Moving Average, can it hold? $4100.00 BTC
Still not sure if this is the long term Bull run beginning but it is defiantly better than what we have been seeing.
Looking at this chart the RSI is basically in the middle so I am looking more at the moving averages to see what I think will happen in the short term. As you can see we have moved passed the 50 day Moving Average which has been serving as resistance for a while now, I am not sure why the sudden move since we have had no real bullish news besides the fact that we are getting closer to the next ETF decision. We have had mini rallies leading up to every ETF decision thus far and large drop offs every time it was postponed, however if one does get approved I am betting we we see the opposite of that, a huge price spike. That all being said, I believe the reason we are seeing an increase in price and volume is because of the US NYSE is experienced a bit of a dump most likely due to the instability caused by the government shutdown. Some investors look to crypto when traditional markets start to drop.
I am not a financial adviser and this is not financial advice, invest at your own risk.
I am looking at the stochastic on the daily and seeing it approach oversold, I am preparing for a correction back down. Very strong short term support line though which is encouraging. Strange to see a pump over a weekend too.
I hedged out 50% of eth and btc around the $4100 mark so let’s see where we go.
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