Crypto Analysis Report 8-18-18 BITCOIN...In Love With That $6k Level
I last spoke about Bitcoin almost two weeks ago,
Thus, the $6000 level is once again in play because there are no buyers in between the current price and the $6100 as indicated by the expanded long range candles in white.
Price did in fact make it's way back down to the $6k level, based for a several days before wicking to the $5869 level, then shoot back up.
Four things need to happen for me to take Bitcoin seriously again:
1 Price need to close above the more recent wick on the daily candle.
2 Price needs to close above the 21 EMA on the daily candle.
3 Price needs to take out the resistance at $6800 on a daily candle.
4 MOST IMPORTANTLY, price needs to take out the sellers at $7075.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas
bitcoin's price has held above $ 5,800. This is great. However, there is still uncertainty in the future.
Agree, bit the risk is worth the potential reward.
nice analysis, and I agree that it really needs to make a push and stick above $7k
Thanks @sagesigm
Yeah man, this price war is wearing on me! We need either the bulls or bears to win already. I just discussed ETH and it pretty similar, 280 level is key and we need to get above 325 and more so 368 for price trend to be considered positive
Agree, we need something convincing and permanent, otherwise the best way to play the noise is at the extreme ranges or just sit it out. As Jesse Livermore once said, sometimes the best trades are the trades not taken.
I used Bitcoin buying hosting same .. thanks for sharing this post