Bitcoin (BTC): Daily Price Action (Sat, 07-Apr-2018)

in #btc7 years ago

For education purposes only.

Price (Up)

Following on from yesterday's price review (here) the BTC price continued its consolidation at the rising trendline (thick, green) and then had a small pop this morning.

Screen Shot 2018-04-07 at 08.51.30.png

BTC is currently trading at $6,860 (Bitfinex) up from a low of $6,500 yesterday.

The move isn't that significant other than resolving the area of price consolidation and possibly sets the price up for a challenge on the $7,000 level and might test the month-long overhead descending trendline, which if it breaks might signal a reversal.

Bias (Neutral - eyeing a bull setup)

Still looking for a comfortable long entry. I'd like to see the price break above the critical level of $7,500 then have a small pullback, at which I'd be looking for taking a long trade.

Until tomorrow,

Bobby.

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