Bitcoin [BTC] - Update 3/06/2018
Some say people were waiting for 6800. Traders weren't waiting for 6.8, they were waiting for the daily RSI to go below 30 and expected that to be around 6.8. Once again, we did not really get there. It hit 29.9xxx on the live ticker but as a daily it remained above 30 because everyone started buying in too soon (your's truly included). So, we have another V on the 30 line but not below it. Makes me doubtful we have enough gas to break 8.1 and 10K convincingly but so far we are making progress.
The weekly, the daily and the 4hr all formed higher lows, but the one hour has one lower low. We have room to go up a bit more. Max 7.890 if you ask me, because at some point we will need a small retrace to form the impulse pattern. Probably 7.3xx or even slightly lower. No need to worry. In fact, if that happens I will be adding more of my fiat stash to the alts pile. After the uptick has started, not trying to guess the bottom this time.
As a long term perspective I can give you what I use myself...
As always: no advice, just a guy with a ruler. GL
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