If you look at the 50 day moving average for BTC, , you'll see that it has flatlined. Yesterday, when the price surge occurred, it immediately stalled at the 50 DMA. I would get excited about any type of rally until BTC can move about and hold the 50 DMA. This may just be a shakeout, which really wouldn't surprise me. We'll see if we can gain some traction here around 6300. Until a clear trend is in place, I'm staying neutral.
Note
it should read... I would ''not'' get excited about any type of rally..
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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.