BTC recaptures its 50-dma – ALTs beginning to move to the upside

Cryptocurrencies have consolidated through April similar to other risk assets -Major cryptocurrencies stalled over the past two weeks following rebounds into resistance levels near declining 50-dma’s. This behavior is similar to what developed in many risk assets, notably equities where cyclical indices, such as the Russell 2000, have stalled in sideways trading ranges heading into last week’s option expiration. However, signs of improvement for BTC taking hold - BTC, for example peaked under its 50-dma on April 7th and has been in a sideways range since. However, over the past few days,...