BTC vs USD Sunday 20th May 2018:
📉 Price action continues above $8000, to follow along the developing intraday trend line as a current base of support.
🔔 Stochastics has begun extending upwards out of oversold after a bullish divergence, an end of month run over the key balance could see prices hit near the top channel trend, exceeding $10k.
📉 The consensus event many were hoping would pump markets has been generally regarded as a washout by twitter and CNBC, although the subsequent 2 weeks is when we generally see upwards of a 70% rise in prices after firms have digested the news that was conveyed during consensus.
📉 One thing for sure is the market is heavily divided on the best bets for 2018 - Bitcoin and Bitcoin cash are both head to head, with long time contenders Ethereum, NEO, Ripple and EOS getting major attention and followings.
In the coming week, volume and especially market cap inflows will be a good barometer of sentiment as ever.
In other news:
There's no 'consensus' regarding bitcoin's price - http://bitcoinist.com/theres-no-consensus-concerning-the-direction-of-bitcoin-price/
Tom Lee explains why Consensus failed to spark a rally - http://bitcoinist.com/tom-lee-explains-why-consensus-failed-to-spark-the-bitcoin-rally/
VC Firm behind snapchat looks set to ramp up its Crypto investments, report says - https://www.investing.com/news/cryptocurrency-news/vc-firm-behind-snapchat-looks-to-ramp-up-its-crypto-investments-report-says-1454557
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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.
