BTC Update - September 8th, 2018
• This weekend, however, we're seeing a very sharp drop in trade considering the level of activity just a few days ago.
• Bitcoin seems to be consolidating in the crossing area of an and a descending one .
• Currently, we're trading below the EMAs, with crossing on the 12h period.
• Both EMAs are moving sideways in the middle of the consolidation zone. To me, this suggests a choppy market for the next few days as we bounce around this range.
• A breakout would have to test the 7450 resistance. Long entries would be on the retest of the breakup from the .
• A breakout would have to test the 5850 support. Short entries would be on the retest of the breakdown from the .
• There is also no visible divergence on , lowering my confidence in any potential trend reversal at this point.
• Overall, I'm bearish-neutral on BTC at the moment.