Key levels for Bitcoin
Updated
Fate of Bitcoin will be determined soon.
Volatility has been decreasing and the range is getting tight.
Volume has been decreasing as well indicating a move shall be determined soon.
Bull case
- Break and close above 6948 would indicate bullishness
- Need a catalyst to fuel the uptrend
Bear case
- Break and close below 6130
Now we are in a very tight range and no clear trend determined, thus trend trading is not ideal to be in any position and shall wait for further confirmation to determine a direction.
Historically crypto best quarter is Q4. Will history repeat itself?
Volatility has been decreasing and the range is getting tight.
Volume has been decreasing as well indicating a move shall be determined soon.
Bull case
- Break and close above 6948 would indicate bullishness
- Need a catalyst to fuel the uptrend
Bear case
- Break and close below 6130
Now we are in a very tight range and no clear trend determined, thus trend trading is not ideal to be in any position and shall wait for further confirmation to determine a direction.
Historically crypto best quarter is Q4. Will history repeat itself?
Note
bubububububulishhhNote
further analysis: big difference in Bitmex and Bitfinex prices due to tether fud. Shall remain patient and let the dust settle and wait for a clean break on all btc charts before being full bullish.
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