Did Bitcoin (BTC) And Other Cryptocurrencies Just Top Out?!

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john.nicholas
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Bitcoin rallied towards $9.4k and ended up testing the trend line resistance just as we expected. In addition to that, it also ended up testing the 50-moving average on the daily and faced a strong rejection at it. This is a strong indicator that Bitcoin and other cryptocurrencies might have just topped out for now. That being said, we still need to wait for confirmation before entering short positions. It is important to realize that these moves in the cryptocurrency market have happened in tandem with the Shanghai Composite Index. Interestingly, both have also topped out at the same time.
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Crypto Trading
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