Telegram
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, BTC has recaptured both its 15-dma and 50-dma and appears poised to rally. A move above resistance at the April highs between 7.1-7.4K would signal BTC is starting its next upside move. Next resistance is near 8K at BTC’s declining 200-dma coinciding with BTC’s 62% retracement of the 2020 decline.  Stepping back for perspective of the long-term, BTC continues to repair the damage that developed from the downside break in March and remains above key support at its 200-week sma coinciding with a curved long-term uptrend.

BTC recaptures its 50-dma – ALTs beginning to move to the upside
You are trying to access FSI member-only content.
You need to have an active FSI Digital Assets, or FSI Pro subcription in order to read this article.
If you are already a member at FSInsight, please Sign In here. If you don’t have a subscription to FSInsight yet, you can sign up below.

Choose one of our yearly plans to save nearly 15%

We accept crypto via BitPay for yearly subscriptions.
    • Macro
      FSI Macro
      from
      $
      199
      /mo
      billed anually
      Get access to all the macro research on FSInsight
      • Tom Lee's First Word
      • Tom Lee’s Equity Strategy
      • Stock Lists
      • ETF Sector Allocation
      • Wall Street Whispers
      • Signal From Noise
      • Technical Analysis
      • US Policy
      • Fed Watch
      • Live Webinars with Q&A
      First Month Free!
    • Crypto
      FSI Digital Assets
      from
      $
      99
      /mo
      billed anually
      Get access to all the crypto research on FSInsight
      • Crypto Daily
      • Crypto First Word from Tom Lee
      • Crypto Blasts from David Grider
      • Crypto Weekly
      • Crypto Technical Analysis
      • Bitcoin Valuation
      • Bitcoin Misery Index
      • Live Webinars with Q&A
      • -
      • -
      First Month Free!
    • Macro + Crypto
      FSI Pro
      from
      $
      249
      /mo
      billed anually
      Get access to all the exclusive research on FSInsight
      • Looking at code?
      • I am hidden!
      • -
      • FSI Macro
      • +
      • FSI Digital Assets
      • Designed by
      • HANGAR115
      • -
      • -
      First Month Free!
Disclosures (show)

Want to receive Regular Market Updates to your Inbox?

I am your default error :)
FSInsight logo
150 East 52nd St, 3rd Floor, New York, NY 10022

Subscribe to our Free Weekly Report

An insitutional-grade report delivered to your inbox every week.

© 2021 FSInsight. All rights reserved. Developed by HANGAR115.

Illustrations by Karl Wimer.