Bitcoins continuing on this sideways path but has recently been really sticking to the 0.5 FIB level. We seem to be getting held up here and we are now facing 0.5 FIB resistance and also the midline on the bollinger bands, we are seeing some more squeezing from the bb's and if we keep going this way we could get a big move in either direction. I think we could see some movement soon and i think it'll be to the downside, most likely 30K but even our pivot point at 28K i think either of these levels will provide us with a bounce back up afterwards though. We do have be careful with the bollinger bands though because if we start to slip and start printing candles on that bottom band we could see a fast move downwards maybe even bringing us to the 0.6 FIB level. The MACD aswell i believe is a little overdue for a bearish cross after we have been seeing lots of green on the histogram, we did get a small bearish cross a little bit ago, but didn't last very long and didn't really fall at all. I believe we will see some more bearish or sideways movement until august before resuming our bull cycle, and i look at these times as great accumulation periods. Not financial advice just my opinion!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.