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Analysis: #Bitstamp #BTC #BTCUSD

Case 44 #Bitcoin

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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BTC 1/7
Since it's 2018 peak Bitcoin has lost much of its upside momentum, but the long term trend remains firmly bullish.

BTC 2/7
Chart 1
Monthly Chart: Price is trading above the #SMA 20 and 10. The main #pivot resistances can be viewed, a monthly close above is required to gain upside traction. Firm #trendline support can be seen at approximately 4450.

BTC 3/7
Chart 2
Weekly Chart: Price stalled just above #Fib 0.618 - the last swing low (19666-3122) and fractionally below the monthly pivot at 13880. The SMA 10 has cut below the SMA 20 and price - ....

BTC 4/7
.... a #bearish signal but currently trades above SMA 50 and 100. Strong trendline support can be seen (blue)

BTC 5/7
Chart 3
Daily Chart: Price is currently trapped between the SMA 100 and SMA 50. Watch the sloping purple dashed line. A daily close below will trigger a highly speculative position. This is printed on the image.

BTC 6/7
Chart 4
Weekly Chart: The #Strategy - printed on the image.

BTC 7/7
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