Good Evening,
Bitcoin has been very volatile lately with choppy ranges. The 4 hour is at the resistance area of the 0.236 fib level, hitting a high of $7747 on the penultimate 4hr candle. The MacD is looking to form a sell crossover, the Stoch is overbought, the Wavetrend Oscillator hasn't hit the top bound sell signal, but looks to be hitting a local top, and the OBV formed a bearish divergence over the last 10 days. Generally, it appears we have hit a local top, and the daily appears that this correction's momentum may be declining unless we get a very, very clear breakout in price and high volume spike. For the medium term, it appears we either chop more or continue the larger downtrend. All the best with your trading!
Written By: Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Bitcoin has been very volatile lately with choppy ranges. The 4 hour is at the resistance area of the 0.236 fib level, hitting a high of $7747 on the penultimate 4hr candle. The MacD is looking to form a sell crossover, the Stoch is overbought, the Wavetrend Oscillator hasn't hit the top bound sell signal, but looks to be hitting a local top, and the OBV formed a bearish divergence over the last 10 days. Generally, it appears we have hit a local top, and the daily appears that this correction's momentum may be declining unless we get a very, very clear breakout in price and high volume spike. For the medium term, it appears we either chop more or continue the larger downtrend. All the best with your trading!
Written By: Philip Raytburg
Research Analyst
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.