Don't Be Sold On Bitcoin Bull Run Just Yet, Momentum Still Weak
We went through a series of reports last week in which we closely assessed the Bitcoin 100 day moving average. This average has only been rejected by Bitcoin one in the last 5 years on the long-term time frame. We considered it a very strong support level in determining long-term sentiment. Bitcoin bounced exactly off that level and headed up the last few day.
Despite this move, we still believe it's too early to justify the long-term bull stage for Bitcoin. There is still some indicators that point to weak momentum right now that has historically shown up as well. You can see our whole analysis here as we outline a few key levels looking forward.
Despite this move, we still believe it's too early to justify the long-term bull stage for Bitcoin. There is still some indicators that point to weak momentum right now that has historically shown up as well. You can see our whole analysis here as we outline a few key levels looking forward.
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