Another month has passed and yet another series of opinions got confirmed or neglected. We had a lot of fuzz around Consensus 2018 but the "Consensus effect" lacked and we even dipped significantly despite the high expectations. Below we are going to look over at the things we DO know and can be quantified, e.g. charts.
Bitcoin, Monthly
So what do we see here ? The things that noone can dispute are - Volume is decreasing since February, we are already three months within the range of February. Also some might suggest that there is a wedge and sooner or later we are going to break it. In order to break we will need a lot more volume. The interesting thing is that once we attempt a break to the downside or upside the volume will be there.
So when we look at things at monthly nothing has really happened. We are ranging since February and we can't really decide what way to go.
Bitcoin Weekly
On the weekly it is interesting that for the first time in years we did close below the 50-day MA. I suppose that now this level will act as a major resistance. To be honest I don't think I can add something else to this timeframe.
Bitcoin Daily
On the daily we can see that after the strong bounce off 7000$ we are slowly creeping up towards the big resistance level at 7700$. We are well below all longer-term moving averages and it is very curious if the 8-day EMA can hold for the day. If it does I expect some price move to the downside.
What is your opinion for the general crypto market ? Let us know in the comments
