In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the February 18th session.
Bitcoin/USD — The Friday session saw the bitcoin market to struggle to rally a bit, but only to roll over after finding resistance at this downtrend line, as you can see. One of the previous sessions produced a gravestone doji candlestick. The volume has been low lately. Selling on rallies that show signs of exhaustion is the way to play this market at the moment. It looks less likely that the market will make a significant break to the upside. The 4,000 level could offer resistance. The 3,000 level below could offer some support. Buying is not recommended at the moment until you see a break above the 200-day EMA.