Bitcoin has been in the news lately, and some so-called experts are struggling to understand why there are so many people “investing” their money in cryptocurrency. With CBS 60 Minutes show provoking the world again, this is a great time to remember that the not so smart money will be coming to the market in the next month or so. Now with that out the way let get down to the market analysis. Bitcoin ( BTC ) has been consolidating above the 2-week at $7600. This is excellent news for BTC and buyers as there are now two active value areas on the chart. The Yellow Area will provide a good entry in the price pullbacks this week below $7600. If you want to play the patience game, then place another trade under $7200. My reasoning for this great value area is this will lead you into the Monthly value area with the psychological support of the 30 day . While we are in this uptrend, I would be looking to take more profit as we move to $8500 and I am confident we will not see the price of BTC drop below $6500 which would be a 20% drop from this month high at $8500.
“Patience is the key to any market” – Nathaniel.
Next update will be tomorrow – Thank you for your love and support.
Nathaniel – “The value Trader”
Little Big Movement