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Bitcoin Ripped Higher Amid Growing Signs That Cryptocurrencies May Have Bottomed

From tradestation.com

Cryptocurrencies like Bitcoin and Ethereum ripped higher yesterday. After months of weakness, there could be reasons to be optimistic on the market. This article will consider several key points about Bitcoin and Ethereum. It’s not intended as a recommendation, but as a survey of how much things may have changed in recent sessions. The first potentially positive things about Bitcoin and Ethereum this week is their breakouts above their 50-day moving averages. This popular trend indicator has been useful in the past. For example, it marked the beginning of Bitcoin’s rally in October and its conclusion in April. ... (full story)

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  • Category: Technical Analysis