{"id":12296,"date":"2022-04-11T09:54:00","date_gmt":"2022-04-11T13:54:00","guid":{"rendered":"https:\/\/morpheustrading.com\/blog\/?p=12296"},"modified":"2022-04-27T01:35:44","modified_gmt":"2022-04-27T05:35:44","slug":"crypto-signals-04-11-22","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/","title":{"rendered":"Morpheus Crypto Report &#8211; Bitcoin Tests Key Support of its 50-day MA"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-719x437.png\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"437\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-719x437.png\" alt=\"$BTC daily\" class=\"wp-image-12010\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-719x437.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-768x467.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-1536x934.png 1536w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">TABLE OF CONTENTS<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Morpheus_Crypto_Report_%E2%80%93_April_11_2022\" >Morpheus Crypto Report &#8211; April 11, 2022<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Crypto_Portfolio\" >Crypto Portfolio<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#tracks_and_updates_all_crypto_signals_sent_to_members\" >(tracks and updates all crypto signals sent to members)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Bitcoin_All_eyes_on_the_50-day_MA\" >Bitcoin: All eyes on the 50-day MA<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Looking_for_Leadership\" >Looking for Leadership<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Altcoin_Watchlist\" >Altcoin Watchlist<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#NEAR_Protocol_NEAR\" >NEAR Protocol ($NEAR)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Kyber_Network_KNC\" >Kyber Network ($KNC)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#GMT_Token_GMT\" >GMT Token ($GMT)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Zilliqa_ZIL\" >Zilliqa ($ZIL)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/morpheustrading.com\/blog\/crypto-signals-04-11-22\/#Battle_Plan\" >Battle Plan<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Morpheus_Crypto_Report_%E2%80%93_April_11_2022\"><\/span>Morpheus Crypto Report &#8211; April 11, 2022<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Below is the full, archived version of <em><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto Report<\/a><\/em> that was sent to subscribers on April 11, 2022.<\/p>\n\n\n\n<p>If you enjoy what you see, please <strong><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">join us<\/a><\/strong> as a Morpheus member to receive real-time access to your live crypto trader room, crypto trading analysis, crypto signals, and crypto portfolio. <\/p>\n\n\n\n<p>Please drop us any questions or comments at the bottom of the post&#8211;<em>we&#8217;d love to hear from you!<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"crypto-portfolio\"><span class=\"ez-toc-section\" id=\"Crypto_Portfolio\"><\/span>Crypto Portfolio<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"watchlist-closed-positions-open-positions\"><span class=\"ez-toc-section\" id=\"tracks_and_updates_all_crypto_signals_sent_to_members\"><\/span>(tracks and updates all crypto signals sent to members)<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-12.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"237\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-12-719x237.png\" alt=\"\" class=\"wp-image-12030\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-12-719x237.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-12-110x36.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-12-768x253.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-12-1536x507.png 1536w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/Morpheus-Crypto-PRO-Model-Portfolio-tracking-Google-Sheets-12-2048x675.png 2048w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>PRESS IMAGE TO ENLARGE IT<\/em><\/figcaption><\/figure>\n\n\n\n<p id=\"model-portfolio-notes\"><strong>New crypto signals sent to members since the previous week are in yellow above.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Bitcoin_All_eyes_on_the_50-day_MA\"><\/span>Bitcoin: All eyes on the 50-day MA<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Bitcoin ($BTC) and most of the crypto market spent the past week in pullback mode, after a solid week of prior altcoin gains led by Ethereum ($ETH).<\/p>\n\n\n\n<p>In the <a href=\"https:\/\/new.morpheustrading.com\/blog\/crypto-signals-04-04-22\" target=\"_blank\" rel=\"noreferrer noopener\">April 4 issue<\/a> of <em><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto Report<\/a><\/em>, we said it was &#8220;all about Ethereum&#8221; due to the relative strength that $ETH was showing to $BTC.<\/p>\n\n\n\n<p>But this week, <strong>all eyes are on $BTC as it tests key, pivotal support of the 50-day moving average:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-719x437.png\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"437\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-719x437.png\" alt=\"$BTC daily\" class=\"wp-image-12010\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-719x437.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-768x467.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/41-205-02-\uff5c-BTCUSDT-Binance-Spot-1536x934.png 1536w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<p>Currently, $BTC is trading about 2% below key support of its 50-day moving average, which is currently around 41,920.<\/p>\n\n\n\n<p>When a cryptocurrency approaches an important, closely watched level of support such as a 50-day moving average, it is not uncommon for the price to undercut the actual support level before reversing higher.<\/p>\n\n\n\n<p>Many traders and investors set their stops tightly below obvious support levels, and those stops often get run before the technical support does its thing to reverse the price higher.<\/p>\n\n\n\n<p><strong>As such, $BTC could still snap back above its 50-day MA and spark a new short-term rally.<\/strong><\/p>\n\n\n\n<p><strong>However, all bets are off if the price does not reclaim the 50-day MA within the next 1 to 2 days.<\/strong><\/p>\n\n\n\n<p>The inability to <em>quickly<\/em> move back above the 50-day MA would be a confirmed break of intermediate-term support.<\/p>\n\n\n\n<p> As for Ethereum, the <em>daily<\/em> chart of $ETH is still showing relative strength to $BTC&#8211;but the relative strength has been fading over the past few days.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Looking_for_Leadership\"><\/span>Looking for Leadership<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When the crypto market is in recovery mode and trying to establish a new uptrend, one of the indicators we utilize is leading altcoins breaking out to new all-time highs ahead of Bitcoin and Ethereum.<\/p>\n\n\n\n<p>As top altcoins establish leadership and break out to new highs, it generally pulls the rest of the crypto market higher alongside it.<\/p>\n\n\n\n<p>For example, it was encouraging that $LUNA broke out to a new all-time high above $104 two weeks ago.<\/p>\n\n\n\n<p>This signal initially told us that other fundamentally strong altcoins may start following suit to new highs as well.<\/p>\n\n\n\n<p>However, the $LUNA breakout failed to follow through and the breakout failed after just a few days.<\/p>\n\n\n\n<p>Now, $LUNA is seeing heavy selling due to traders and investors who bought the breakout and did not quickly sell when the breakout failed:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/LUNA-breakout-719x456.png\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"456\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/LUNA-breakout-719x456.png\" alt=\"$LUNA daily\" class=\"wp-image-12016\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/LUNA-breakout-719x456.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/LUNA-breakout-110x70.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/LUNA-breakout-768x487.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/LUNA-breakout-1536x973.png 1536w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<p><em>IF<\/em> $BTC finds support at its 50-day MA and starts to rally this week, then we will again turn our attention to looking for individual altcoin leadership that could pull the market higher.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Altcoin_Watchlist\"><\/span>Altcoin Watchlist<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Most altcoins lagged $ETH last week, and many have slipped back below their 50-day moving averages.<\/p>\n\n\n\n<p>However, several cryptos are still showing relative strength on their daily charts by holding near their recent highs.<\/p>\n\n\n\n<p>If $BTC and $ETH stabilize and start to head back up, the following cryptos with relative strength could be among the first to rally higher:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NEAR_Protocol_NEAR\"><\/span>NEAR Protocol ($NEAR)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/NEAR040822-719x436.png\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"436\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/NEAR040822-719x436.png\" alt=\"\" class=\"wp-image-12018\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/NEAR040822-719x436.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/NEAR040822-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/NEAR040822-768x466.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/NEAR040822-1536x932.png 1536w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Kyber_Network_KNC\"><\/span>Kyber Network ($KNC)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/KNC040822-1-719x438.png\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"438\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/KNC040822-1-719x438.png\" alt=\"\" class=\"wp-image-12022\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/KNC040822-1-719x438.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/KNC040822-1-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/KNC040822-1-768x468.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/KNC040822-1-1536x935.png 1536w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GMT_Token_GMT\"><\/span>GMT Token ($GMT)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/GMT040822-719x437.png\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"437\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/GMT040822-719x437.png\" alt=\"\" class=\"wp-image-12024\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/GMT040822-719x437.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/GMT040822-110x67.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/GMT040822-768x467.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/GMT040822-1536x934.png 1536w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Zilliqa_ZIL\"><\/span>Zilliqa ($ZIL)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/ZIL040822-719x441.png\"><img loading=\"lazy\" decoding=\"async\" width=\"719\" height=\"441\" src=\"https:\/\/new.morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/ZIL040822-719x441.png\" alt=\"\" class=\"wp-image-12026\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/ZIL040822-719x441.png 719w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/ZIL040822-110x68.png 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/ZIL040822-768x472.png 768w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2022\/04\/ZIL040822-1536x943.png 1536w\" sizes=\"auto, (max-width: 719px) 100vw, 719px\" \/><\/a><figcaption><em>Press chart to view full-sized image<\/em><\/figcaption><\/figure>\n\n\n\n<p>In addition to the above, both $CVX and $ETH (already holding) continue to show decent relative strength on their daily charts.<\/p>\n\n\n\n<p>If the crypto market starts to rally this week, the plays above are on the top of our watchlist.<\/p>\n\n\n\n<p>However, all bets for new buy entries may be off (for now) <em>unless<\/em> Bitcoin snaps back above its 50-day MA within the next one to two days.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Battle_Plan\"><\/span>Battle Plan<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>After selling into strength and locking in a net portfolio gain of +6% in the prior week, we entered four new positions with relative strength on April 7 (after Ethereum pulled back to its 20-day MA).<\/p>\n\n\n\n<p>The new pullback entries have failed to gain traction due to the lack of a bullish market reversal after the correction.<\/p>\n\n\n\n<p>However, patiently waiting for pullback entries enabled us to get lower risk entry points for new trade entries.<\/p>\n\n\n\n<p>As such, three of our open positions are still holding above their stops&#8211;despite significant short-term weakness in the market.<\/p>\n\n\n\n<p>$AAVE hit its stop after relative strength in the DeFi sector started fading.<\/p>\n\n\n\n<p>For now, we continue holding the remaining three open positions with our original stop prices. <\/p>\n\n\n\n<p>If Bitcoin fails to snap back above its 50-day MA soon, we may sell at least partial position size of these positions to reduce risk.<\/p>\n\n\n\n<p>Meanwhile, we continue scanning the market for potential trade entries so that we are prepared if Bitcoin suddenly snaps back.<\/p>\n\n\n\n<p>As always, we will send an intraday trade alert with tree details if\/ when we enter any of the trade setups above .<\/p>\n\n\n\n<p>Obviously, much will depend on bitcoin&#8217;s performance as it tests key support of his 50-day moving average.<\/p>\n\n\n\n<p>In the meantime, be sure to honor your stops and remember to trade what you see, not what you think!<\/p>\n\n\n\n<p><em><strong><a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">SIGN UP NOW<\/a><\/strong> to start receiving your winning Morpheus crypto trade signals, including a crypto portfolio<\/em> <em>you can easily follow.<strong> <a href=\"https:\/\/morpheustrading.com\/services\/crypto-picks\" target=\"_blank\" rel=\"noreferrer noopener\">Morpheus Crypto PRO<\/a><\/strong> includes <strong>live crypto trader room<\/strong> for daily, real-time trade ideas and powerful crypto trading education. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p><!-- wp:paragraph --><\/p>\n<p>When a cryptocurrency approaches an important, closely watched level of support such as a 50-day moving average, it is not uncommon for the price to undercut the actual support level before reversing higher.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n<p><!-- wp:paragraph --><\/p>\n<p>Many traders and investors set their stops tightly below obvious support levels, and those stops often get run before the technical support does its thing to reverse the price higher.<\/p>\n<p><!-- \/wp:paragraph 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