Bitcoin has put people to sleep over the last couple of months- forextrade forextrading
has put people to sleep over the last couple of months, but the one thing that I am paying the most attention to is the $18,000 level. When you look at the totality of the last several months, you can see that we are trying to form some type of descending triangle, so I think that will only add to the idea that anything below $18,000 opens up a bigger move.
Short-term rallies will be selling opportunities more likely than not, in a move below the $18,000 level on a daily close could have this market looking toward the $15,000 level in the longer-term.market has fallen during the week, as we seem to be hanging around the $85 level. That being said, we’ve only taken back about half of the very bullish candlestick from the previous week. There are lot of noisy moves out there that will continue to cause this market to go back and forth.
The market will continue to see a lot of negative behavior, and now that we are in the midst of earnings season, there will be a lot of bad forward guidance to push this market down over the longer term.
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