BTC/USD: Same Old Story
Tim Fischer | Jul 01, 2019 15:31
I don't normally, combine news with TA but as we all know it has similarities. Especially when dealing with a low market cap and new Technology.
We have had some healthy movement come into this space, Not just from the new of "Facebook (NASDAQ:FB) Coin" but it's definitely got people ears pointing north because money was to be made. no matter the outcome of the regulations is facing.
It has been a few days after the news has come out after everyone brought in on the rumour.
It looks to me that now its all died off we may see some high levels on consolidation within our uptrend we have been in for many months. Mostly #BTC will general follow its trend and have a breakout a fall straight back to the resistance/support.
In this case, with the news combined it took a few days longer than it normally does. With certain indicators showing and a close under the resistance of the uptrend looks to me like we will be falling back into the uptrend we should be in. No one wants to buy BTC at 13k. Not yet anyway. We have a long time until it will stay up here for long periods of time. The price action is a lot more aggressive then it was years ago. Weekly and Monthly just show that the price doesn't like to be above 9k for long. In fact, BTC does not stay above or trade within the 9-10k region for long. the moves are very violent.
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