Bitcoin Trading - July 5, 2017
It looks like today is going to be another up and down day for Bitcoin. Overnight, the price went up to $2600, pulled back to retest support at $2550, and has spent most of today climbing to a high of $2624. The price of Bitcoin has pulled back again at the moment to retest $2600 and currently is at $2606.
I'm still watching to see if this Cypher Pattern will complete at $2900 in the longer term. In the short term, I'm looking for the market to move the Bitcoin price over $2624, then $2660 and on towards previous highs in the $2800s. the orange lines above go back a few weeks to previous resistance levels. I'll be watching for price to break above those levels and the bullish trend to resume.
Bitcoin has been consolidating for a few weeks now around the $2400 - $2600 range. Now that we've broken above $2600, I'll be looking for the price to continue it's rise and retest previous resistance levels. If it breaks above $2800, it's pretty much a straight shot to retest $3000.
The RSI is a tad high, but not in a bad position at all. The market is showing strength in Bitcoin. The MACD is sitting perfectly in the middle and just turned up. There's also some good buy volume showing up, which leads me to believe everyone is over the holiday and back to the grind. The Bitcoin market is poised to make some good moves right now. I think we'll see some decent gains over the coming days/weeks. This looks like a good jumping off point to me. I could always be wrong, so as always, keep your stops tight and trade safely.
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There has been a lot of up and down since this month started
Yep.... especially since it touched $3000. I feel like this slump is almost over though.
I hope its not directionless until 1st August for the UASF. Feels like the calm before the storm at the moment.
The uncertainty has been holding price down imo. As confidence in UASF builds, I think price will increase.
just wanted to let you know I bought some dash mining with your code
I was wondering who that was. Thanks for letting me know! I'm going to upgrade again soon, so ill use yours again.
used it again today
depending how the prices develop I will sit out for a while again since I am paying in crypto
all the coins are going down