Saturday 8 May 2021

Bitcoin: Long Consolidation

Bitcoin is starting to show some signs of life but it still sits approximately 10% below its prior all-time-high (ATH). With Bitcoin continuing to trend sideways when looking at the last 2.5 months, it is clearly no wonder why the Bitcoin dominance has dropped so much. With that said, we know that Bitcoin reserves the right to take all bullishness back from the market whenever it wants to. In this video we discuss many of the various moving averages that Bitcoin has been interacting with over the last several months and speculate on what may be coming. TA Video by Benjamin Cowen.