Up nearly 5% from the day’s low, Bitcoin impressed market observers, who saw bulls redressing a chart “inefficiency” after recent downside.
Fellow trader Skew, among others, also noted that the rally was coming from spot market buying instead of derivatives.Skew noted that momentum needed to continue for “more than just a few hours” to effect lasting change.Bitcoin is hedge against ‘horrible’ gov’t fiscal policy — Cathie Woodprovided by the 200-period exponential moving average on 4-hour timeframes, popular trader and analyst Josh Rager demanded higher levels still.
"Dips from here will be important to see the level of limit buying to gauge actual demand for higher prices," he This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Bitcoin maximalism is misguided — Satoshi Nakamoto was a 'Maxi Plus'
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