Bitcoin cost teeters on a corner of a hill like Wily E. Coyote holding onto an anvil. The roadrunner is serve adult a highway during $680. Beyond lies a betrothed land of bitcoin cost $2000. FOMC night is here again.
Bitcoin Price Analysis
Time of analysis: 13h00 UTC
OKCoin 3-Month Futures 4-Hour Candle Chart
From a research pages of xbt.social, progressing today:
While a 1day and 3day charts sojourn in a bearish state, we expect decline.
The 4hr candle draft MACD stays next 0 (magenta circle) and RSI keeps retreat diverging from cost (blue annotations), that is vanilla season bearish in anyone’s TA textbook. The offer is that a marketplace is denying decrease with undiscerning psychology, though but institutional (whale) support. Hence, a laterally visual settlement might form (magenta trendlines) until a sell-off next $640 kicks in.
$640 is a vicious pivot: while cost stays above it there is each possibility that the