We remain neutral on Bitcoin (BTC) for three reasons.
First, nobody wants to pay more than 8500 for Bitcoin (BTC). Two, Bitcoin (BTC) has been unable to break its 21-day or 200-day moving averages. Third, stocks are doing better. If fast money chases equities, it may not chase crypto.
Bottom Line: We don't want to see Bitcoin (BTC) below 8100. If there are two daily closes below 8100, we may be forced to get bearish.
First, nobody wants to pay more than 8500 for Bitcoin (BTC). Two, Bitcoin (BTC) has been unable to break its 21-day or 200-day moving averages. Third, stocks are doing better. If fast money chases equities, it may not chase crypto.
Bottom Line: We don't want to see Bitcoin (BTC) below 8100. If there are two daily closes below 8100, we may be forced to get bearish.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.