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Bitcoin Gives Up Gains as USD Strengthens
The Bitcoin market initially tried to rally on Friday but gave back early gains to form a shooting star. This is a market that continues to see a lot of volatility, as the $40,000 level has been a short-term resistance barrier. Furthermore, it is likely that the 50-day EMA underneath offers a nice target for value hunters to jump in and take advantage of that. The market will be influenced by a lot of different factors, but right now Bitcoin is running into a lack of momentum. If we do pull back from here, the 50-day EMA makes as support near the $44,400 level. The 50-day EMA has been supportive a couple of times ... (full story)
