Bitcoin Price Analysis: The 50 Day Exponential Moving Average is Big Resistance (Week of May 4)

Bitcoin Price Analysis: The 50 Day Exponential Moving Average is Big Resistance (Week of May 4)

The Bitcoin price continues to be range-bound. This appears to be looking like the top of that range. Last week the price was ~$225 USD as of this writing and now its at $234 USD. It has attempted a few times to get above $240 USD, which is proving to be major resistance. This is where the 50-day exponential moving average (insert link) now lies. In the last few days price has tried to stay above this level and hasn’t been able to. As has been mentioned in previous articles the slope of all the EMAs (50, 100, and 200) has turned downward and this is starting to prove problematic. The price....


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