Chart points to bitcoin ‘peaking out’ in early 2021, trader says
From cnbc.com
Bitcoin could be headed for a breather in the new year. The red-hot cryptocurrency continued its longest monthly win streak in more than a year on Monday after grazing a new all-time above the $28,000 mark on Sunday. Based on the charts, that run might be put on pause come 2021, Mark Newton, founder and president of Newton Advisors, told CNBC’s “Trading Nation” on Monday. “It is still quite bullish on an intermediate-term basis given that it just broke out to new all-time highs,” Newton said. “I think we have a ways to go. Near term, my cycle composite shows us peaking out in early January.” Bitcoin’s weekly chart ...
(full story)