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Investors Repeatedly Buying and Selling Specific Cryptos: Why?

Published 30/07/2023, 00:00
Investors Repeatedly Buying and Selling Specific Cryptos: Why?

  • Crypto investors are selling altcoins to take advantage of the ranging crypto market.

  • Many traders are selling altcoins at their resistance levels and buying them back at the next support.

  • The ongoing selloffs of some altcoins is a profit-taking exercise by digital assets investors.

Crypto investors are selling altcoins to take advantage of the ranging crypto market, according to John Kyle from the Crypto Banter YouTube channel. With Bitcoin and cryptocurrencies moving sideways, many investors are selling altcoins at their resistance levels and buying them back at the next support.

Kyle used the Bitcoin Moving Average Convergence Divergence (MACD) indicator to explain the developing trend reversal in the cryptocurrency market. According to Kyle, there is a developing MACD histogram signal. He noted that the histogram is turning green on the Bitcoin monthly chart, and at the same time, a bullish moving average crossover is establishing itself.

The Crypto YouTube analyst identified a notable resistance on the monthly Bitcoin chart, which is gradually flipping into support. He acknowledged that as a momentum-building move for the pioneer cryptocurrency. A c…

The post Investors Repeatedly Buying and Selling Specific Cryptos: Why? appeared first on Coin Edition.

The post Investors Repeatedly Buying and Selling Specific Cryptos: Why? appeared first on Coin Edition.

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