MONEYWEB
app instead?
Enter the chart watchers.
07:16
Image: Andrey Rudakov/Bloomberg
Bitcoin has yet to recover from its unexplained weekend swoon, and now the investing public is on edge about the notoriously volatile tokenâs next move. Enter the chart watchers.
Noting that âa chart is a chart is a chart,â Tallbacken Capital Advisorsâs Michael Purves — weighing in on crypto for virtually the first time — sent a note Wednesday with a technical analysis of the coinâs trading patterns. Bitcoinâs recent highs werenât confirmed by its relative strength index, among other things, and its upward momentum is fading, he said.