Made a few posts recently about bitcoin and specifically the 50 day moving average.
Well it seems to of done it again.
It is consolidating with a strong support at the 50 day avg.
It doesn't have the strength to make a full bounce off the line, and will fail to even hold it soon.
I am leaning towards the positive spin and that it is good news that we have a strong base to work off. Because it is clear that a lot of pressure is building around this 50 day line.
That strong base could be used when the pressure finally breaks, propelling us up to test the ATM.
I bought the last 2 50 day touches but wouldn't be this one. My plan is still to sell my small position around 19K and buy back in big once/if 20k is broken.
Thanks for reading.
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