28/08/2018/08:30CET
Signs are looking good in cryptoland today. The sun is rising.
Our crypto barometer, #btc is looking quite nice today. Lets take a look at the chart and see how it is faring.
btcusd 1d -[bitfinex]
We trade at press time at 6903 usd after a bullish 2% spike overnight.
This is day 5 after our close above the 21dema indicator and we are now challenging the first line of resistance at the 50dma and 100dma which have converged.
We also had some fake breakouts in June and July that ran out of steam and rolled over at the 6900-7000 usd levels so this is a line of resistance in the charts as well.
There is nothing special to say about volumes at the moment but they are somewhat healthier than they have been in the last few months, but only slightly.
I will keep this post short but I wanted to draw your attention to what btc did when it crossed the 50 and 100dma indicators in the recent past!
As always guys, leave comments, have fun and trade safe.