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Bitcoin Gives Up Early Gains to Start Year
Bitcoin initially tried to rally on Monday, but as you can see, we continue to see resistance just above. We are currently hanging around the 200 day EMA, which in itself is worth noting. At this point, every time we try to rally there seems to be selling pressure, but I think it is probably only a matter of time before we make a bigger move. If we can take out the highs of the last couple of candlesticks, then I think we will go looking towards the $50,000 level, which has a lot of psychology built into it. Furthermore, the 50 day EMA is sitting at $52,000, so that would be your next target. However, it is worth ... (full story)
