Apparently 50 day MA was getting a lot of respect starting in October, it served as support and now serves as resistance. There's also possible 50MA/200MA crossover approaching, we'll see what happens.
Note
Something to consider about the chances which way it will go in the near term: some of the new account applications at major exchanges (Coinbase for one) have been sitting unprocessed since as far as December. I'm hearing now those are getting verified so perhaps we'll see if there's any of the pent-up demand there that will show in price action.Note
Another day, another rejection of the 50 DMA...
Note
BTC snuck past the 50 dma, now it has to work through resistance overhead. Ideally, a retest of 50 dma and a slingshot higher if this proves to be resumption of the uptrend.
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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.