The price of Bitcoin did in fact bounce off the 100D SMA, provided a much needed relief rally after 11 days of mostly just moving down. With this bounce we have seen many altcoins surge as well. We are getting a cross of the 20D SMA and 50D SMA which is somewhat bearish, so we will want to keep a close eye on whether this bounce by Bitcoin is able to break over these shorter term MAs and put in a new ATH, or if the general momentum will continue to take us down over the next few weeks. TA Video by Benjamin Cowen.
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