Bitcoin Breaks 50-Day MA for 1st Time Since January

Bitcoin Breaks 50-Day MA for 1st Time Since January

Bitcoin Breaks 50-Day MA for 1st Time Since January

$BTCUSD

Monday, Bitcoin Bulls may have seen the technical beak-out they have been looking for.

The world’s biggest cryptocurrency by market value rose above its 50-Day MA for the 1st time since mid-January, up as much as 5.8% Monday, the most in 2 weeks.

Currently, Bitcoin is trading at: 11,273.9746, -248.971, -2.16%, as of 5:15a GMT, the market is open

The  bounce comes after a fall from record highs in December amid debates on how to value the digital coin and threats of regulation.

Crossing the Key resistance mark may raise sentiment of traders and investors as they look for a reason to spark a rally.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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