Bitcoin (BTC/USD): Morning Analysis, More Blood...
Daily
Trend timeframe showing price continuing to remain in our bearish trend, stochastic rsi showing momentum looking slight bullish. A daily close above $6,700 and we should be seeing a run towards $7,600. Awaiting the formation of a higher low before taking any entry, after the daily close above $6,700. However if we fail to close above $6,500 I could expect BTC to fall towards $5,000.
4Hour
Shifting over to our pattern timeframe we see price has been respecting it’s downtrend behavior. Price has recently found resistance at $6,500 and is looking bearish on the 4hour. Stochastic RSI showing momentum is starting to peak. A close below $6,500 and we could see the sell off continue, last support is at $6,300 before chaos is let loose.
Conclusion
- Buy: Daily Close Above $6,700 / Bounce Off $5,000
- Sell: NO
Comment Down below what coin you want me to do next! ;)
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
Your title is very complicated, I would suggest for example: "Bitcoin Morning Analysis: More Blood In Sight". I see all yout titles are very complex.
All mayor cryptos could be interesting, but I'm wondering what Ether will do now after Buterin speaking.
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