35 days ago • Posted by Jasper Lawler
Technical Analysis: Bitcoin back above 200 DMA after measured move objective reached
When the fundamentals are inexplicable, sometimes there is some sense in the technicals...
The drop in BTC/USD over the past 5 days is a near-perfect measured move below the rising channel it had been in since March. The $30k level where the priced bounced yesterday found support right at the February lows.
The price is now back at its 200-day moving average, which will be one hurdle to overcome if the price is headed back to $50k again.
Source: TradingView @jasperlawler