Bitcoin Breakout or Breakdown? Here’s the Trade.

Published by
The Street

By Bret Kenwell Bitcoin has made a nice move off the low, but it’s struggling with resistance. Here’s how to trade it from here. Bitcoin prices were hammered and cryptocurrencies broadly have taken a massive dive this year. Specifically, Bitcoin saw a peak-to-trough decline of nearly 75% and is down 47% so far in 2022. The moves clearly answered the question of whether bitcoin, ethereum and others would act as a hedge against inflation. While they did initially jump and rally in 2020 and 2021, investors must question whether this was due to the rally in risk-on assets (like high-growth stocks)…

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