Bitcoin (BTC) Morning Update: Time Could be Running Out for the Sellers
SUMMARY
Bitcoin (BTC) remains above the long term support line. Yesterday say a mutli price bar dip below it; but a surging green bar took prices back above the support. The below chart shows a white arrow line that outlines a potential multi support piercing; almost as a needle and a thread to sow up the tear on the support! The MACD had touched the lower yellow support line and has started rising towards the upper yellow resistance. The apex for both price and MACD are both fast approaching. What does this mean? It means that the Sellers are running out of time! They need to give all they've got to bring Bitcoin to a lower low on a daily scale and yet, they have two problems: Declining seller population and much narrower MACD mobility. There just may not be enough sellers to destroy Bitcoin's price. The MACD has been obeying the contracting yellow lines since December and currently, the vertical mobility is extremely limited and that means price mobility is also very limited. The MACD has been making higher lows while price has been making lower lows; a positive divergence that goes against the Sellers' efforts.
The W bottoming process is still preferring the white pathway as the long term support has held up pretty well, so far. The MACD also confirms that a resolution of direction is fast approaching.
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Thoughts on xvg/btc? I keep seeing a C wave still but the cup and handle make it a tricky correction. Thanks!
Here is the XVG/BTC analysis. Please use only to augment your due diligence.
https://steemit.com/verge/@haejin/verge-xvg-btc-breakout-in-progress
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Will do later today!
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Make sure you downvote all of @Haejin's scammy post!!!
https://steemit.com/bitcoin/@goldmine2018/verge-will-moon-through-huge-partnership-with-tokenpay
This a mafia and worse speculators ever currency . I will never put money in it again
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The truth is, Bitcoin is being manipulated. No one knows the direction it'll take. Technical Analysis is almost impossible to perform accurately under these market conditions. It won't be until we have clear regulation and tax laws, specifically for cryptocurrency, that we can start to somewhat accurately predict Bitcoin's future.
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I think it's pretty clear that the majority of the public got fucked (as they always do) so expect them to be looking to sell in the intermediate term at least....and if the overal market goes down expect bitcoin to go sideways at best which is what I am hoping for.
The expected rally could be a wave B up and so the C down could hurt many more in July.
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That is what I am thinking....this bottom will take a while (a while in Crypto world is like 6 months though lol)
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Btc got above $7k today. We all are hoping ut gets even higher with eth following up. I also heard some Russian hotels will accept btc during the sport event in Russia.
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I think this new and the implementation will bring a boost to the price of btc.
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Here is why we got above $7k today.
https://steemit.com/bitcoin/@goldmine2018/bitcoin-and-many-other-coins-3-5-up-who-was-responsible
Very good BTC analysis: http://cryptosrocket.com/btc/2018/03/29/lets-see-the-big-picture-and-whats-next
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I believe the support line was not breached at all. I just can see slightly different one
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upvoting and following you
cool info something to think about
GOOD POST FOOD FOR THOUGHT
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Come to my blog and check out my opinions! Let's think about various possibilities.
https://steemit.com/bitcoin/@goyapro/bitcoin-btc-update-uptrend-cycle-started