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

#Cryptocurrencies
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