In the medium term, bitcoin is also moving sideways, but buying power is increasing across time frames.
By June 2018, bitcoin will decide which direction to go in the most clear.
However, the two most important points are:
- The price will test the peak 20,000
- Test the bottom of 6500.
In long term view, prices are in the cumulative sizewave area with lower peak.
In the medium term, the buying power is weakening, not breaking the previous resistance.
In the above analysis buy zone:
The strong psychological dispute occurred in the 50 fibo area, there is a possibility of price adjustment down here appears the strong buy and...
A strong selling force has occurred in the last 2 months to adjust after a strong trend of EUR against USD.
Prices may continue to decline in the range of 70-90 pips.
Buy area appears:
- The RSI on the daily chart is at a low 20-25 level.
- The above buying price level coincides with the strong psychological dispute in the weekly frame.