During the session of today, the price of Bitcoin reports a decline of -2.29%, dragging the value to $3300 again. We can see how a selling force is preventing BTC from efficiently surpassing the $5000 resistance.
At this time we see an attempt to lateralize the price, as we saw weeks ago, this type of lateralization can lead to a new fall which could reach the support mentioned by many experts, we talk about the $ 1500.
- Bitcoin goes back below $ 3400
- Lateralization in the price can lead to new fall
- An uncertain picture for the BTC at least in 2018
It’s interesting how a lot of sellers are trying to keep BTC from rising above $ $5000; apparently they want to hold a low price for 2019 and this could be because of the BTC ETFs. 2019 is loaded with fundamentals for BTC so we could expect a significant increase, however large investors would find it very useful that BTC was cheap until the ETFs t others are confirmed or there is a strong rumor of approval.
At this time the EMA 9/26 mobile averages are maintained in an area that seeks lateralization, while the RSI continues above 35%. This outlook is disturbingly similar to the one observed weeks before BTC fell from $ 6500.
The purchase volume during today’s session is very low so we could experience lateralization during the week.
- Moving Averages EMA 9/26
- RSI (relative strength index) 35% lateralized
- Support $3000
- Resistance $5000
This analysis should be used as an information medium; it does not pretend to be an investment advice. Investing in cryptocurrencies is highly risky; avoid investing the money that you cannot afford to lose.