Bitcoin Price Analysis and Short Term Forecast: June 6, 2018

The video provides a look at three indicators and technical analysis methods used to evaluate price trend and strength. It seems $BTC is shaping up for a hard decision over the coming weeks or months within a falling wedge of a breakout to the upside (re-igniting the bull trend back to $20k) or downside (breaking through 2018 lows of $6k).

For those of the listeners and readers who aren't familiar with the NVT Ratio and its relation to the current price action, I have include a link to my article:
hackernoon.com/mathe...fishing-e3a615747dd5

The article walks you through the details and why the fundamentals are important to take into consideration for future price action.

Comment:

Over the past 5 days, blockchain transaction volume has increased, on average, by ~42% and finishing yesterday (June 8th) at $7.2B. Market cap over the same period has remained flat with yesterday's finish at $131.2B.

NVT Ratio as of June 8, 2018 = 18.27
5 day average NVT Ratio, ending June 8, 2018 = 20.49

This is very good progress in closing $BTC's NVT Gap to an acceptable level, i.e. between 10 and 20. This pattern will need to continue and strengthen over the coming days/weeks as the price breakout showdown approaches within the $BTC falling wedge.