Investing.com investing.com 11 Jan, 2021 16:00 am

Chart Of The Day: As It Tumbles, There's Reason To Grow More Bullish On Bitcoin

Chart Of The Day: As It Tumbles, There's Reason To Grow More Bullish On Bitcoin
Market Analysis by Investing.com (Pinchas Cohen/Investing.com) covering: XAU/USD, Gold Futures, SPDR® Gold Shares, Tesla Inc. Read Investing.com (Pinchas Cohen/Investing.com)'s Market Analysis on Investing.com

Note, the 50 DMA is moving up toward the current rising trend line, while the 100 DMA rises to support the second uptrend line, at $22,200, and finally the 200 DMA retraced the shallowest uptrend line on this chart, at $14,000.Moderate traders may risk a long position if the price bounces off the uptrend line.Trade Sample – Long Position SetupSo Airbnb (NASDAQ: ABNB ), which has no physical real estate holdings, was worth more than the three largest hotel operators after its IPO, albeit without assets.

Still, though we're bemused by any asset that doesn't have a physical component, we won’t fight the trend.However, it appears that this market disregards physical value.

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