BitcoinLong
Bitcoin BTC 1 DAY Market Update and Technical Analysis
Not much to really say here but more sideway actions
Right now altcoins are the talk of the month, especially with Binance and Bittrex listing
I really do see bears stepping in eventually and taking back more control
We keep hitting multiple RESISTANCE points ($6500, $6800) and keep getting rejects
Watch for:
- Major resistance at $6800 has only been broken like once due the Tether FUD
- Support is still around $6200
- Candles have closed below the Bollinger Bands for the past week
- RSI is still below 50 confirming we arent ready to go higher
Action steps:
- Focus on alts and hedge into Fiat or a stable coin
- Until we break and CLOSE above $6800, i won't be longing BTC
- Until we break $6200 and close, I wont be shortening BTC
Right now altcoins are the talk of the month, especially with Binance and Bittrex listing
I really do see bears stepping in eventually and taking back more control
We keep hitting multiple RESISTANCE points ($6500, $6800) and keep getting rejects
Watch for:
- Major resistance at $6800 has only been broken like once due the Tether FUD
- Support is still around $6200
- Candles have closed below the Bollinger Bands for the past week
- RSI is still below 50 confirming we arent ready to go higher
Action steps:
- Focus on alts and hedge into Fiat or a stable coin
- Until we break and CLOSE above $6800, i won't be longing BTC
- Until we break $6200 and close, I wont be shortening BTC
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