Cryptocurrency_Capital

Bitcoin Evening Update 5/22/2018

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Good Evening,

Bitcoin went on a stop run to stop out late shorters and fakingly broke through the Span B cloud before rapidly falling back down into our support box.
On all timeframes (4hr pictured) we see that the buying volume in this range is no longer that great so any immediate bounces seem very unlikely. Most timeframes are completely oversold and we might form a bear flag here before proceeding down further. We went as far as $7864, still in support, but sell volume has increased gradually and just tonight spiked up. On the 4 hour, the Span B cloud was closing up but expanded again. We are on the extreme lower bound of the BBands which makes it very likely a bear flag might form. Signs of the the top can be seen as we formed a reversal doji on 5/21/2018 and hit cloud resistance. The daily Stoch has just crossed back down and signs point to a revisit of $7000 USD and under. We can also see a swing high on the daily, but for the next few hours we will likely consolidate. 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.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out