The areas this post will examine include the fundamental news for what's been taking place over the past few weeks as well as a price and technical analysis overview of Bitcoin, Binance Coin, and some macro cap altcoins. Any questions or comments submit in the comment section below!
The Bitcoin chart below displays the current price trend using 480 min bars. There have been a few false signals over the past few sessions and as we get quietly reminded by experienced traders alike that sometimes not taking a trade can be your best trade. These two signals look like that. Here are the two reasons why they were not the right signals to trade.
1) #1 reason by far was that this was the first time price had broken through the trend. When this happens yes it is a positive sign but price most of the time breaks out and continues to build upward momentum. That is what CYAN shows you that the trend is still below 0 but slowly gaining strength.
2) 200 > 50 period MA