Caleb & Brown

February 6, 2020  ·  4 min

Price Commentary - Bitcoin - 7th March 2019

Price Commentary - Bitcoin - 7th March 2019

Commentary by Jackson Zeng, COO Caleb & Brown

Bitcoin: USD $3,882 (07Mar 2019 3:53 pm) There has been little activity with the Bitcoin price this week. It remained fairly stable along the 50-Day exponential moving average (EMA) and is holding as a support for now.

tradingviewone
tradingviewone

The price closed at $3700 below the EMA on 4th March before a prompt bounce and holding the price above $3800. This hints toward a strengthening in the support levels.The relative strength index (RSI) is starting to climb again this week, sitting at 60 currently. Over the next two weeks we will paying close attention to the sell side volume.This is especially important given we۪re looking to retest the short term $4000 ceiling levels, as a rapid retracement again could signal weakness in this short-term trend and the greater mid-term trend.

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Disclaimer: This assessment does not consider your personal circumstances, and should not be construed as financial, legal or investment advice. These thoughts are ours only and should only be taken as educational by the reader. Under no circumstances do we make recommendation or assurance towards the views expressed in the blog-post. The Company disclaims all duties and liabilities, including liability for negligence, for any loss or damage which is suffered or incurred by any person acting on any information provided.

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