Good Morning Traders
So as of this morning Bitcoin is still ranging and is currently at $8300 at the bottom of VPVR support and under the hourly Span B cloud. The 4 hr looks even worse with a bigger Span B cloud looming above the current range. Buy volume seems very low right now and with the Bollinger Bands contracting it's likely that at some point today or within the next few days we really enter the pictured support box. While it is likely we get to the next support around $7800, the daily looks like we bounce up from there, with a bottom out Stoch, bottom touch on the BBands, and a new Span A cloud forming, with us at VPVR support. Back on the hourly, this range is allowing the Stoch to reset without any significant upwards movement, and with all the aforementioned signs that makes it look like once it does, we get that next downwave. On the contrarian point of view longer term, the weekly formed what seems to be a reversal doji with our current weekly confirming it. So, even after we ~likely~ hit next support, there is no guarantee we go up, as we may print another trend reversal from the weekly candles of the $6.5k to $9.9k run.
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.
So as of this morning Bitcoin is still ranging and is currently at $8300 at the bottom of VPVR support and under the hourly Span B cloud. The 4 hr looks even worse with a bigger Span B cloud looming above the current range. Buy volume seems very low right now and with the Bollinger Bands contracting it's likely that at some point today or within the next few days we really enter the pictured support box. While it is likely we get to the next support around $7800, the daily looks like we bounce up from there, with a bottom out Stoch, bottom touch on the BBands, and a new Span A cloud forming, with us at VPVR support. Back on the hourly, this range is allowing the Stoch to reset without any significant upwards movement, and with all the aforementioned signs that makes it look like once it does, we get that next downwave. On the contrarian point of view longer term, the weekly formed what seems to be a reversal doji with our current weekly confirming it. So, even after we ~likely~ hit next support, there is no guarantee we go up, as we may print another trend reversal from the weekly candles of the $6.5k to $9.9k run.
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.