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BTC/USD: Trying to Build a Floor
Bitcoin rallied early on Thursday as we continue to see a lot of noisy behavior, with the overall emphasis of the market continuing to see a lot of consolidation. The 92,500 level ends up being a significant resistance barrier, right along with the 50-day EMA, which is also going to show a certain amount of downward pressure. The market has recently fallen pretty significantly, and I think a lot of that comes down to the fact that people are a bit worried about risk appetite. And that, of course, is something that greatly influences Bitcoin, as it is pretty far out on the risk appetite spectrum. As things stand right ... (full story)
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