Quick Look @ Bitcoin - Again...

in #bitcoin5 years ago

Bitcoin = Still Not "There" Yet.

Not too much has changed since my last Bitcoin post, but I decided to take a look again just now to see if I could spot anything interesting. Here's what I came out with:



4 Hour Chart

I've only looked at the 4 hour chart, because the daily, weekly, and monthly won't look much different than they did the other day. But, what can we see?

  • Strength = Good but not too bullish yet, with the RSI around 50.
  • MACD - Still on the bearish side.
  • Major support = Holding
  • Volume = Declining
  • MA Cross - Still on the sell side.

So it's mixed signals once again! The major support at around $8575 is holding nicely, but the declining volume combined with the rest of the indicators isn't making me feel to bullish just yet.

But what do you think? I'm always keen to get others opinions, especially from people who have been doing TA longer than me. :-D

Thanks for viewing!

Want more technical analysis and crypto related posts? See also: @toofasteddie, @gazur, @ew-and-patterns, @pawsdog, @cryptomagic, @exxodus, @beiker, @lordoftruth, @masterthematrix, @cryptoheads, @tombort, @maarnio, @steemaze & @briggsy

Not intended as investment, financial, or trading advice. For entertainment purposes only.


If you're wondering why I've not been charting the top 10 lately, it's because the market has mostly been following Bitcoin. (Except for EOS the past couple days I guess!). I will be back to doing that next week for sure!

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