Morning all.
Nice candle on Bitcoin yesterday finally took price away from the 200d moving average after 4-5 days of hovering around that area and looking quite indecisive as to which direction it wanted to move.
I’m glad the 200d ma has held as it helps keep that Golden Cross signal somewhat valid although the overhanging and flattening 50d ma is not looking pretty and could provide a technical obstacle.
With Gold moving higher and major stock indexes moving lower, the scene is nicely set for Bitcoin to display more safe haven correlation, something it lost into the end of March, and it would be good to re-establish that.
Could this be the start of the pre-halving rally? Let’s hope so, would be great to see it challenge $9,500 over the weekend and show some signs that bullish sentiment is warranted.
I took profit on one position because after my orders had triggered on the way down to test $8,400 I realised that I had a duplicate position so I took the chance to close that on yesterdays bounce.
Thanks for your time.
