Bitcoin Falls Deeper Into Its Trading Range
For current post, see previous post. The only asset to make a sizable move was Bitcoin (BTCUSD) as it lost near 2% to fall deeper back into its trading range. While it's in a trading range it's in no-mans land, which means gains and losses don't carry much significance until trading range support and resistance is breached.
The Dow Industrials has eased back to its 20-day MA, as like other indices. Today's volume registered as distribution, and there is a weak MACD 'sell' in the mix although other technicals are bullish. The index is underperforming relative to peer indices, but is climbing steadily higher.
Just for those Gen-X'rs burnt/scarred by tech related stocks and associated industries in Y2K, I'll leave this painful reminder for those who missed out (hint:me).
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