Bitcoin: No New Lows but No Upside. The Charts Hint at Direction.

Published by
The Street

By Bret Kenwell Bitcoin has failed to generate any meaningful upside momentum but has avoided making new lows. Here’s how to trade it now. While the S&P 500 tries to carve out a low for the year, bitcoin bumbles along. It’s not showing any meaningful upside strength but it’s also holding above the 2022 low. The top cryptocurrency still has its fans — like Ark’s Cathie Wood — but its lack of upside strength combined with a bear market in multiple asset classes has investors shying away from this risk-on asset. We’ve seen that bitcoin seems tied more to riskier assets than to inflation measures….

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