#Bitcoin must read
4600-5400 is the most probable bottom with 80% probability to hold, may dip to 3200-3600 but reversal will be instant. Current Support 6450 which may offer some bounce.
4600-5400 is the most probable bottom with 80% probability to hold, may dip to 3200-3600 but reversal will be instant. Current Support 6450 which may offer some bounce.
Last time #bitcoin's daily RSI level was this low (~26.4) in 2016, this happened...
📰 Ethereum is not a security, at least in the view of U.S. Securities and Exchange Commission (SEC) director of corporate finance William Hinman.
Speaking at the Yahoo! All Markets Summit: Crypto event in San Francisco Thursday, the official told the audience that the agency "doesn't see a lot of value in treating ether today as a security," explaining that the fact that there is no central figure or group responsible for ethereum, and therefore "the assets may not represent an investment contract."
Speaking at the Yahoo! All Markets Summit: Crypto event in San Francisco Thursday, the official told the audience that the agency "doesn't see a lot of value in treating ether today as a security," explaining that the fact that there is no central figure or group responsible for ethereum, and therefore "the assets may not represent an investment contract."
❗️SEC sponsored rally couldn’t really go too far as expected! Topside Resistance is very heavy. We may spend some time on the upper floor before elevator to basement again!
BTC Resistance: 6733, 6869, 7080, 7335
Bottom targets still 5400-4600 range
BTC Resistance: 6733, 6869, 7080, 7335
Bottom targets still 5400-4600 range
Currently BTC is teasing a bear flag breakdown, if confirmed, the bears could make a strong comeback, pushing BTC back to $6,100
Watch the RSI has already breached the ascending trendline in favor of the bears.
Watch the RSI has already breached the ascending trendline in favor of the bears.
❗️Bitcoin Weekly Candle closed around 6438. That is the lowest weekly close for 2018 & lowest since 6th November 2017
Price action confirms a prolonged bearish/sideways tone. Tricky for Bag Holders for few months, great time coming for FIAT Holders! Most ALTs will suffer more brunt when $BTC resumes downtrend.
All $BTC bounce will be sold off until stronger downside supports are tested.
Downside targets:
5776
5400
4987
4718
4500
4275
Expect a sharp reversal at 4500 +/- 10%
Upside Target 7500
Price action confirms a prolonged bearish/sideways tone. Tricky for Bag Holders for few months, great time coming for FIAT Holders! Most ALTs will suffer more brunt when $BTC resumes downtrend.
All $BTC bounce will be sold off until stronger downside supports are tested.
Downside targets:
5776
5400
4987
4718
4500
4275
Expect a sharp reversal at 4500 +/- 10%
Upside Target 7500
❗️Insider News:
SEC approves BITCOIN ETF with few riders, insists for minimum share to be priced at 500,000$ & insurance cover of 105% to cover costs! ETF Launch date 1st Aug, 2018
(This is our fantasy, dream & desire)
(Wish that was true) 🎯
SEC approves BITCOIN ETF with few riders, insists for minimum share to be priced at 500,000$ & insurance cover of 105% to cover costs! ETF Launch date 1st Aug, 2018
(This is our fantasy, dream & desire)
(Wish that was true) 🎯
If there is no SEC trigger than Bitcoin will play sideways 4500-7900 for few months & may extend to 11800 later in 2018.
📌All Time High in 2018 is possible only with SEC approving ETF
📌All Time High in 2018 is possible only with SEC approving ETF
#Bitcoin No Change in View
Every bounce will be sold off. Upside capped at broken trendline. $BTC is following this channel. A bounce was expected so calling this bounce a start of a bull run will be mistake
WE ARE NOT DONE YET WITH DOWNSIDE
7050 & 7200-7300 major Resistance
Every bounce will be sold off. Upside capped at broken trendline. $BTC is following this channel. A bounce was expected so calling this bounce a start of a bull run will be mistake
WE ARE NOT DONE YET WITH DOWNSIDE
7050 & 7200-7300 major Resistance
❗️Reminder: H1 2018 closing
We are in June & this month is half yearly closing for some Hedge Funds, expect greater volatility across all asset classes including crypto
Major dates : 29th of June being last Friday of the month & 30th June being the last day of the month!
We are in June & this month is half yearly closing for some Hedge Funds, expect greater volatility across all asset classes including crypto
Major dates : 29th of June being last Friday of the month & 30th June being the last day of the month!
Once a Strong Support is broken it turns into a Strong Resistance
BTC may attempt to break higher but will be rejected as topside resistance is heavy. Expecting 20-30% downside in BTC but expect slow & boring price action.
BTC may attempt to break higher but will be rejected as topside resistance is heavy. Expecting 20-30% downside in BTC but expect slow & boring price action.