$BTC Tests 100-MA While Mining Stocks Surge
$BTCUSD (Update) — Strength Building Into Declining 100-MA on Highest Volume Day of the Month
$BTC continues to build off its $60,000 floor price since Feb 6th. Strength is supported with $Valkyrie Bitcoin Miners ETF(WGMI)$ crypto mining group intraday +8.4% move with strong showing from $Bitfarms Ltd.(BITF)$ $IREN Ltd(IREN)$ $MARA Holdings(MARA)$ $Cipher Mining Inc.(CIFR)$ $CleanSpark, Inc.(CLSK)$ $Hut 8 Mining Corp(HUT)$ $Riot Platforms(RIOT)$ all breaking out. WGMI $VanEck Digital Transformation ETF(DAPP)$ $Global X Blockchain ETF(BKCH)$ are the strongest group movers today.
Current price off $75,000 actually coincide with its declining 100-MA. $BTCUSD previously resume its downwards momentum after rejection off its 100-MA in Jan 15th on a similar base structure. A clean break above $76,050 will the highest price $BTCUSD traded in 2-month, clearing the declining 100-MA in process.
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