Bitcoin spinning its wheels at the 39k level
This week’s Bitcoin market commentary is in video format.
Category: Morpheus Crypto Report – Archives
Welcome to the free archives of Morpheus Crypto Report, our exclusive crypto swing trading report included with your Morpheus Crypto PRO membership.
Each weekly issue includes an updated and tracked crypto portfolio, crypto market analysis, and the best crypto signals for swing trading crypto, including $BTC and leading altcoins.
Past issues of Morpheus Crypto Report are posted here with a delay after being sent to paid subscribers. Press HERE to learn more about the best service for swing trading crypto.
The initial Bitcoin follow-through rally from on the bullish reversal pattern was impressive, but also short-lived.
In our previous report, we mentioned the February highs as a major resistance level to watch if $BTC reclaimed its moving averages above the 40,500 level.
That’s how it played out, as $BTC stalled and reversed sharply lower after testing major resistance at the 45,000 to 46,000 area (resistance of the February highs).
In anticipation of a $BTC pullback after testing its February highs, we sent alerts to lock in profits on partial share size of several portfolio trades into strength of that rally.
We entered a few new positions in the portfolio after the Feb. 24 bullish reversal bar.
Open positions holding up well and we will continue to monitor for locking in profits into strength and tightening stops where needed.
Note on the Watchlist two new setups: $API3 buy stop and $SOL buy stop (add to existing position).
