Technical Analysis to Clean up Bitcoin's Mess

Louis Sykes
June 15, 2021

These crazy Bitcoin "HODL'ers" and "Laser Eyes" people must be going nuts right now.

Apart from a few exceptions in shorter time frames, there's been a painful lack of real opportunities floating around in this space recently, both on the long and short sides.

Breakouts are failing, and breakdowns aren't doing much either.

Legendary trader Paul Tudor Jones once said that "Markets only trend about 15% of the time, the rest of the time they move sideways."

As aggressive as trends can be in Crypto, we need to respect that markets simply need to repair their damages and reload for the next move.

In the context of Bitcoin's 200-day moving average, once price slips below it, it tends to stay below for some time - especially after prolonged periods of it remaining above.

 

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