Hi traders,

Bitcoin.

• As I mentioned in my previous analysis I currently operate under the assumption that this market is going to stay bearish until we hit the next period of accumulation.

• Now, that being said, TA is not an exact science so it's always best to entertain both sides of the market. In this case, I would consider my working hypothesis to be invalid if we break above $9300 and start going for a retest of $10k.

• Finally, remember that TA is second to fundamentals and right now everything is pointing towards an institutionalization of the bitcoin market with big players being very active in Bitcoin OTC trading; probably to take positions before SEC authorizes Bitcoin ETFs sometimes later this year. As for me, I am using TA to get in at the best price I can so I can trade the next bull market on cruise control.

Trade Safe!

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