Crypto Market Update 6.4.2019
Quick video update on the market. Correction and consolidation is healthy. We have to see if we have the ability to start building a foundation for a push higher - or if the market will experience weakness in the coming months.
I posted a couple of very bullish charts recently (including one where Bitcoin could end up past 50K sometime this summer), but things like that are only possible if certain conditions are met.
Didn't mention this in the video, but daily RSI is hitting a support level that has (in the last couple of months) meant that price was ready to move up. You can see that circled here:
Additionally, some areas to watch out for Bitcoin as support are:
$7800
$7500
$7200
$7000
$6800
If 6800 falls convincingly, I think a longer bottoming period might need to play out.
This video is not financial advice, and I am not a professional financial advisor.
-Victor Cobra
I posted a couple of very bullish charts recently (including one where Bitcoin could end up past 50K sometime this summer), but things like that are only possible if certain conditions are met.
Didn't mention this in the video, but daily RSI is hitting a support level that has (in the last couple of months) meant that price was ready to move up. You can see that circled here:
Additionally, some areas to watch out for Bitcoin as support are:
$7800
$7500
$7200
$7000
$6800
If 6800 falls convincingly, I think a longer bottoming period might need to play out.
This video is not financial advice, and I am not a professional financial advisor.
-Victor Cobra
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