Bitcoin Trend Series / EP. 730 / FATF

Recapitulation

• Bitcoin price is still treading Sideways to shows flat action in recent 2 weeks, as investors still shocked recent Tether and Bitfinex incident.

Market Factors

• Financial Action Task Force (FATF) announced that it will get one step closer to creating international standards for cryptocurrency when it launches its first set of rules in June of 2019.

• There are a handful of Positive Developments in the bitcoin industry these days, traders are waiting for bigger announcements or might be feeling anxious while the SEC continues to mull its decision on the ETFs.

Technical

• Technical picture mostly look bearish and we believe that 6.497K - 6.879K area could be the one where short position could be taken !

• Stochastic & RSI reflect that sellers could stay in control.

Sentiment

The short term trend is Bearish

Support 1: 6290.000 level.
Resistance1 :6497.000 level.

Support 2: 6040.000 level.
Resistance2 : 6879.000 level.

Expected trading for today:
is between 6290.00 and 6879.00.

Expected trend for today :
Bearish.

YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.

Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of substantial returns down the road.