Bitcoin (BTC) has bounced back above $8,500, but the rally is not backed by decent trading volumes, the technical charts indicate. The cryptocurrency closed below key technical levels on Thursday, signaling a bearish breakdown, but the sell-off unexpectedly ran out of steam at $7,925 a day later. Subsequently, bitcoin gained more than $500 over the weekend, rising back above resistance at the 50-day moving average.
At time of writing, BTC is changing hands at around $8,530, having clocked a six-day high of $8,644 earlier today. While last week's bearish trend seems to have run out of steam (as seen in the charts below), the weekend's low-volume rally risks trapping the bulls on the wrong side of the market.
Lees hier verder.
Reactie plaatsen
Reacties