roblever

BTC - Still Neutral for now

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Price is still inside this sloping triangle formation - stopping at a key junction (Long term trend line and the Weekly 200MA). Price is at 21 (oversold) on the RSI so I would expect at least a bounce up towards the top of this triangle @6200-6400, where bulls may be trapped once again, or even to meet the 200 Daily MA which currently sits around 7000. A definitive break either side of the triangle is significant of course.

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Total Coin Market Cap (2) : 2014 vs 2018
I think this drop is a pedestal for future rise.

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As soon as the Bitcoin Cash hard fork is done, I expect the bounce upwards to happen.
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