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

0
4
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….

Read More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.