Update on Bitcoin. BTC-USD on June 28, 2018

June 29, 2018


The market has recently set a new minimum for this year, the lower we go, the more chances to reverse we have. We have a rather long trend and globally, there are more buyers than sellers now standing in the queue to buy, the possibility for the bullish market growth every day. The low volume at the market makes the consolidation period longer, however it can be the smoothly growing price and July can show the price increase (but not fast). Most of the alts are at their lower marks and look good to buy. Don’t enter with a big deposit, it’s better to buy in parts in order to buy more on drops or just to wait for the reversal confirmation, always manage your risks. If to get rid of the candle noise on Bitcoin chart, we can see the formation of the falling wedge and we are at its bottom edge now. In order to consider the positive scenario in case of a bounce, we need to overcome the resistance at the upper edge of the pattern (which can correspond to the resistance at 8000).  It is possible for the market to follow the classical way of pattern exit marked on the attached chart.


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