In the event of a sustained correction by Bitcoin, we want to take a look at some key areas of support that price of Bitcoin could bounce at if we in fact make it there. While the 20 week MA is the bull market support, currently ranging from $28k - $31k, the 50D MA is much closer, currently at around $41k. The 50D moving average coincidentally is almost about to coincide with the prior local top at $42k. In the event of a continued correction by the price of Bitcoin, perhaps we would look to the 50D MA to provide a bounce, like it did back in January. TA Video by Benjamin Cowen.
DISCOVER A SMARTER WAY TO TRADE - COVESTING (Copy Trading)
Choose among best performing traders and automatically copy their trading activity. Earn second income by allowing others to follow your trades.
Learn more about Copy Trading >>
EXPERIENCE ONLINE TRADING and invest in the world's most popular assets and cryptocurrencies on the ultimate investment platform - 24/7 - on the device of your choice.
-$10 000 demo account
-$10 minimum deposit
-$1 minimum investment
Test your investing strategy and trading skills with a Free Demo Account >>
