BTC/USD price analysis: $8,200, the last bastion (Update)

Since my last article, the BTC/USD pair has been going sideways and bottoming at $7,925. It is trading at $8,350 at the time of this update. The pair was eager to test the sub $7,800 range earlier but it has been distancing itself from that eagerness over the weekend.

I opened a long position at $8,050 with stop-loss order at $8,250. I have updated that stop-loss order twice since opening that position.

The trend is still bearish and the pair wants to go down. Investment funds and banks have made announcements about entering the cryptocurrency markets, but keep in mind that today's price is a horrible entry point for any bank or investment fund.

I will keep EOS and TRX under surveillance because I believe they can generate an uptrend pulling BTC up in that scenario.

I would appreciate your feedback and your vote very much.

Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.

For Educational Purposes Only.