Downtrend is still strong for BTC
indicator showing a hidden divergence on the daily indicating more momentum + 50 area acting as resistance. is also turning so
Lower TF is forming but finding support on the cloud edge. A break of the cloud would fuel more downside (6287).
Break below 6277 will indicate more momentum next key would be 5846. If 5846 do not hold (support tested multiple times = weak), we can see more panic towards 5k-ish region.
Support at 6287 region and we print a higher low indicating and upward movement. However meed a break above 6650 200 on 4hr to show more signals.
A lower high printed in this area would add to an inverse head & shoulder showing more upwards momentum on a break above 6889.
Touch the 5846 for the 3rd time as support and trend higher.
As for fundamentals, with each new ICO coming out it adds selling pressure to the cryptocurrency ecosystem. Companies cashing out to FIAT to either fund their project or buy a lambo. Catalyst for the next bull run would require a huge influx of capital the highest probability scenario would be approval of BTC .
Quote of the day: Trend is your friend
3D support held price for US closing with a nice short squeeze.
Trend is still downwards