BTC was rejected as it approached, both the 10k mark and 200 MA. There is uncertainty in the market, and BTC will need more confident buyers enter, before it can jump this hurdle. This wasn't surprising. In my previous analysis, I figured we were in a sideways correction.
Everything still looks bullish for BTC in the near future, and a slow steady rise will be better for the market as a whole. More investors will feel confident in less volatile market. A slower rise in BTC price could be what they are looking for in the long term.
Nothing has changed since my prediction from April 21. Too many "top" analysist use hourly charts to predict Bitcoin's path. I feel they completely miss out on the bigger picture.
Everything still looks bullish for BTC in the near future, and a slow steady rise will be better for the market as a whole. More investors will feel confident in less volatile market. A slower rise in BTC price could be what they are looking for in the long term.
Nothing has changed since my prediction from April 21. Too many "top" analysist use hourly charts to predict Bitcoin's path. I feel they completely miss out on the bigger picture.
Comment:
Comment:
Nothing new to bitcoin. It broke through, both the original and secondary support. I'm now looking at 8.1k as new support. I'm currently in accumulation mode, buying dips and selling into fiat as the bear flags mature on the hourly.
This market reacts quickly to FOMO. With a Mt Gox selloff and a S. Korean news scare, BTC dropped over the last few days. Hopefully, the bears will be calmed next week.
This market reacts quickly to FOMO. With a Mt Gox selloff and a S. Korean news scare, BTC dropped over the last few days. Hopefully, the bears will be calmed next week.
