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.


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