Bitcoin and altcoins are rejecting at higher levels, but several technical charts highlight an important silver lining.
. McGlone believes that it “may be a while before buy-and-hold types gain the upper hand.”
Instead of buying the entire quantity at one go, they could gradually build a portfolio and aim to finish the purchases before the asset picks up momentum and shoots higher. If bulls want to salvage the situation, they will have to push the price back above the 20-day EMA. If they do that, it will indicate that the break below the uptrend line may have been a bear trap. The index could then attempt a rally to the overhead resistance of 4,200.The bulls successfully defended the retest of the breakout level from the wedge pattern on Feb. 20, which started a stronger relief rally in the U.S. dollar index .The index has reached the 38.
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