Crypto Core Media site, BTC chart review
If you have never heard of Crypto Core Media website, you may want to take a look and add it to your crypto bookmark folder. This site has news, podcasts, mining articles and a online crytpo magazine.
The tab on the left has a list of the magazine which you can either view online or download as a PDF file.
This month is 122 pages and although some of the pages are ads, there are some pretty good articles to read. Most of them are fairly short, so you can pick and choose the ones that look interesting to you and read it within a few minutes. I have not found another crypto related magazine and for free, you can't beat it!
The next tab take you to their podcasts. These are not as consistent as the monthly magazine, but they are out once to a few times a month. (On a side note, if you listen to podcasts, check out Unconfirmed or the Unchained podcast from Laura Shin. Informative and she is a good interviewer)
The next tab has articles related to crypto mining. (I'm not sure how many individuals out there are actually mining Proof of Work cryptos? Care to chime in if you are? (I have a few Proof of Stake coins at work as an experiment)
The next tab is the news. (There are a lot of crypto news sites!)
The daily chart of BTC shows consolidation around the 9.3k level.
It is above the descending upper trend line, but has not broken above the 11.6k level.
The trading range is between 8.3k and 11.6k. It obviously needs to break 11.6k to break out for a bullish trend.
Stochastics are just above 20 and moving sideways, not much price action lately.
The last decline had some large sellers based on volume.
IMO (and I am not a financial advisor, just someone looking at a chart), the low for 2018 was on February 6th. Could BTC break lower than 5873 on the GDAX exchange? Yes as anything can happen in cryptoland.
I base my opinion on a few facts: The previous 3 years, the low price was in January.
BTC reached a pivotal fibonacci level of 23.6, was at the lower trend line and just below the 200 day moving average.
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So another week and then I'll become a millionaire again?
Not too sure about that, especially the way BTC tanked today...
You always come up with nice stuff in BTS chart review.. Thank you
Thanks!
So, BTC looks like broke out of the major downward trendline then came down to same line as a support now,,,,,more likely to go up or down now?
I looked at it with a bollinger band and it is under the 20 day moving average, so it is on the bearish side.
Depends on how close one wants to look at the chart to see the price movement quicker, I would zoom into 4hour chart, 1 hour chart then if want to day trade then, even closer look at 15 min chart.
For future viewers: price of bitcoin at the moment of posting is 9280.10USD
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