Just did a TA on BTC
, support region between $5,800 and $6,550. If it holds above long enough, probably it might consolidate in this region for a while. If you look at the volume
(just using bitfinex as reference), volume
has been decreasing over the last 7 months. This also means that the market movement is slowing down and this also means that the volatility
will be probably lesser over the next few months. Its good for the market overall because adoption can only come in when market stabilizes/matures. I'm still bullish
long term on cryptocurrency but for those entering a long position or wants to stock up your crypto holdings, recommended entry will be at $5,800. Probably the next big move (either up or down) will highly depend on the next big news hitting the market (either positive or negative).