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Understanding the comparative price action of BTC and EUR/USD
The point about to be made here is worth taking note of folks. If you look at a 0.01% move in the EUR/USD that is 1 pip on the price action at the current levels. If you apply the same maths to BTC at the current levels, a 0.01% move equates to $10. So, just now BTC did have a test of the noted 50 day moving average. As just earlier noted, that is in place around 97,295. The high seen a short while ago was set at 97,340. So, in effect around the equivalent of just 4 pips in the EUR/USD above that technical level. So, does that constitute a clear break, or can we safely conclude that the 50 day moving average is still (for the time being) capping the topside in BTC just now? Yes we can. BTC is right now at 96,840
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