The bitcoin markets initially tried to rally during the course of the trading session on Thursday but then gave back the gains to show signs of exhaustion. The market has been very bullish for some time, but we have gone sideways over the last couple of months, so I think we are simply trying to work off some of the excess froth that we had seen recently. The 50 day EMA is flattening out, so I think will continue to see a little bit of indecision, or perhaps simple distribution. Looking at this chart, the $50,000 level underneath should continue to be supportive, as it was previously resisted, and has even be ... (full story)