BTC Analysis 7/06 BTC-USD

BTC / USD broke through all barriers on its way down and hit a new low of $5,755.00 after the massive sell-off in February 2018.

To be honest, I had expected a counter-movement much earlier. Now it is very difficult for Bitcoin to oppose the established bear market. The large support zones have already been left sustainably downwards.

Currently I estimate the situation so that BTC will first train a price range, which he will test several times from both sides. Just to have a base BTC can break out of. Either up or down.

Forecasts are therefore very difficult to make at present. On a short-term level, however, I see the price rising rather than falling. However, this is only intended for a possible trading approach and not an investment recommendation.

Should the resistance leave the $6,750.00 range on a daily basis, I see potential through emerging momentum to the $7,038.00 - 7,120.00 price range, after which it could move rapidly up to $7,782.00 - 8,380.00 if the resistance is not strong enough. At the latest there a greater resistance is to be expected, which will probably stop the price.

It is important here that the volume confirms the price increases. This means that a clear upward volume should be noticeable!

This is NOT investment advice and does not encourage buying or selling. Every reader is aware of this and makes his own investment decision with his own understanding of risk management!

Cheers Jessy