Bitcoin Price Diagnosis: Selling Pressure Leaves Macro Level Untested

Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested

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Summary:

  1. The foreign market structure that we've established during the previous couple of weeks stays intact, regardless of the strong round of selling the bitcoin marketplace saw a couple of weeks ago.
  2. The weekly 50 exponential moving average (EMA) is now in the process of being tested but the marketplace has been not able to close a weekly candle over it.
  3. The intraday levels have revealed support following the round of selling.
  4. In the event the current levels do not hold, we could expect to observe a test of the 4,700s as we haven't tested its service following our strong breakout.
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Published at Fri, 12 Apr 2019 19:21:28 +0000