50 day moving average holds yet again

Made a few posts recently about bitcoin and specifically the 50 day moving average.

post 1

post 2

post 3

Well it seems to of done it again.

Positive spin

It is consolidating with a strong support at the 50 day avg.

Negative spin

It doesn't have the strength to make a full bounce off the line, and will fail to even hold it soon.

My thoughts

I am leaning towards the positive spin and that it is good news that we have a strong base to work off. Because it is clear that a lot of pressure is building around this 50 day line.

That strong base could be used when the pressure finally breaks, propelling us up to test the ATM.

I bought the last 2 50 day touches but wouldn't be this one. My plan is still to sell my small position around 19K and buy back in big once/if 20k is broken.

Thanks for reading.

KevinBacon

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