I last spoke about Bitcoin almost two weeks ago,
Crypto Analysis Report 8-5-18 BITCOIN...The $6k Level In Play Again
Thus, the $6000 level is once again in play because there are no buyers in between the current price and the $6100 as indicated by the expanded long range candles in white.
Price did in fact make it's way back down to the $6k level, based for a several days before wicking to the $5869 level, then shoot back up.
Four things need to happen for me to take Bitcoin seriously again:
1 Price need to close above the more recent wick on the daily candle.
2 Price needs to close above the 21 EMA on the daily candle.
3 Price needs to take out the resistance at $6800 on a daily candle.
4 MOST IMPORTANTLY, price needs to take out the sellers at $7075.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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by rollandthomas
