After a period of suppressed prices ( late 2017 up to the second quarter of 2018, Bitcoin is now positioning itself for a possible breakout above the yearly (200EMA) moving average prices and quarterly (60EMA) moving average prices.
This surge has been precipitated by news that the World’s largest asset fund management firm BlackRock, and billionaire trader Steve Cohen have expressed interest in Cryptos and blockchain.
Keenly watching whether the price will hold above 8,180 after a weekly close, and going forward in the third quarter of 2018, if an uptrend will eventually be established or the current surge is just an overreaction.
Disclaimer: This article is for informational purposes only and NOT a BUY or SELL recommendation/signal.
Published by SYLVIA MUCHAI
Sylvia’s Traders Lounge (STL) is a global community of traders established in February 2017. We seek to educate and provide services to our members regardless of their level of experience and knowledge in financial markets. Our services are centered on assisting members in the development of robust strategies that can withstand the impact of random events therefore enabling them to maneuver through financial markets uncertainties. Sylvia’s Traders Lounge is grounded on the core value of education above everything else. STL strongly believes that an educated trader is well equipped to identify and cash out from the opportunities presented in the financial markets.
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Now all became clear to me, I thank for the necessary information.
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