Chivashon

$BTC - Bitcoin Daily - Bittrex

BITTREX:BTCUSDT   Bitcoin / Tether
We have seen a pullback with Bitcoin the last week, but in my opinion its a healthy one as we are pulling back to a swing point and we have not broken beneath it yet. I say we are in a decent buy zone right now and I'm going to place a smaller buy order today. The buy zone ranges from 6830 to 7050 as seen by the green box on my chart, though the 50 day moving average helps support we could see support in this region as its trending up and moving through the zone now. Plus we have the bollinger bands starting to squeeze supporting the 6830 support line. This also shows volatility is starting to decrease and as the squeeze continues, could be a future sign of breakout conditions, though its still to early to tell if this will happen. The one hour and four hour charts also show the RSI are in oversold conditions, so I hope to see some bounce happening over the next day or two.
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