BTC has shown resistance at the 200 day on more than 1 occasion, currently looking overbought on the daily. A lot of sideways action but still needing to break through 7k, a few good days in green even though we had the ETF denials recently. The MACD weekly however doesn't look too bad, looks like a lot of sell pressure since January is thinning out.
According to Fundstrat Global Advisors' Thomas Lee, there's an important correlation budding between emerging markets and bitcoin, the most dominant coin in the cryptocurrency space."
"Both really essentially peaked early this year, and they both have been in a downward trend," the firm's head of research said Friday on CNBC's "Trading Nation." "Until emerging markets begin to turn, I think in some ways that correlation is going to hold and tell us that sort of the risk on mentality is those buyers aren't buying bitcoin."