Weekly
Looking tour higher timeframe we can see price is currently at a very critical point. Last time BTC was at this price we had radical jump from $6,000 zone up to our all time high, followed by two more occasions where we tested our $6,000 zone and jump to form lower highs. Stochastic RSI also showing momentum is starting to slow down. Weekly resistance shown at $7,500, expecting a push to this level followed by a rejection.
Daily
Shifting over to our pattern timeframe we see price is respecting our design wedge pattern. Price remaining in a tight consolidation zone $6,500—$6,800, a daily close above or below our levels indicates our next direction. Stochastic RSI showing momentum is looking extremely bullish although price shows indecision.
Conclusion
- Buy: After Daily Close Above $6,800
- Sell: NO
Comment Down below what coin you want me to do next! ;)
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
Technical Analysis helps describe a lot of the nuances in the marketplace, but what happens if tomorrow someone like Amazon announces they will accept Bitcoin? That's why I'm holding ;)
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Great analysis! I found it very interesting.
Talking about ICOs, after doing your own research, also finding good ICO projects can be profitable.
There are many good crypto related projects that are developing now.
If I can give you guys my opinion, I discovered an exciting one: RAWG.
Just now the RAWG team won TWO blockchain contests in one day. Amazing! Have a look at this article explaining this great result:
https://medium.com/rawg/wizardry-product-transparency-5325fd85557a
Like they say: “This is RAWG’s promise to become one of the trustworthy projects in the sea of fraud and scam”.
If you want to have a look and get some information, the ICO will start in a short period and they are at the moment in pre-ICO phase.
The ICO site is this one: https://token.rawg.io/.
It's a video game discovery platform that converts your skills into goods and services.
You can earn tokens by playing your favorite games. The site is already working, with more than 50,000 games in the database and new games are getting added every day.
Have a look. I hope this information is helpful!
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