[BTC] - Price analysis 27.1.18

HI all, Crypto Sludge here.

So, CME futures closing are behind us, i am not 100% sure they were a real catalyst for the price action we saw, as the volume there was pretty low compares to the actual BTC trading volume on all other exchanges, but we can't rule out the psychological effect of traders looking at the CME futures in an "appeal to authority" bias (Wallstreet knows better kinda thing).

So if we look at the 1D chart, we can see that we are approaching to a decision point. We do have a clear downtrend (red line) but we are been doing higher lows after the initial drop (the green line)

One of these lines, will have to give. And we will probably see some clear action once it happens. But we are clearly in a no trade zone in my book.

Let me know what you think

Trade ON!

Crypto Sludge.