In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the May 8th session.
Bitcoin/USD — The Tuesday session was very bullish for bitcoin, as it has now reached the 6,000 level. This level has been significant resistance. So, the market could try to pull back from here to locate support below. So, the market could build up enough momentum to break to the upside. The 50-period EMA below looks supportive. So, pullbacks are seen as value at the moment. Selling is not recommended at the moment.