BTC vs USD Monday 14th May 2018
📉 The death cross formed EXACTLY as predicted by us since the start of last week.
🔔 Stochastics is rising back up and about to leave oversold as weekend selling continues into a strong accumulative bid, ahead of the Consensus summit in NY next week.
🥂 With the NY Consensus event just getting started today for a whole week of crypto talks in New York and a star studded attendance list of institutional investors and big names in the tech space, tickets for many talks are now sold out - let the games commence!
Looking at the technical indicators:
Hourly MACD – The MACD for BTC/USD is now back in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI is currently well below the 50 level.
Major Support Level – $8,300
Major Resistance Level – $8,600
🧐⏱ With mining set to become more expensive, and the pressures of halvening block rewards over the next 2 years, fundamentals have never looked more bullish for crypto.
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Disclaimer:
Please note that the above information is for educational purpose only and is not to be taken as investment advice. Other Cryptocurrencies are available.
