Bitcoin volatility is back

Quick Take

  • On June 30, bitcoin ended the week with its first daily close below the 10-day moving average in 18 daily sessions
  • After a punch through $10,000, bitcoin rose another 38.67% in just 4 days after the $10,000 breach and almost finished the month at the highest monthly close ever (Dec 2017: $13,863.13)
  • For the coming week ahead, a defensive posture as a trader would be prudent

 

 

Joe McCann is the Founder and Chairman of the Board of NodeSource and former quant trader for Passport Capital. This piece is purely for informational purposes; nothing in this post should be construed as investment advice.



© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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