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RE: Bitcoin (BTC) Evening Update: Short Term and A Viable Alternate

in #bitcoin7 years ago

BTC is still weak. The correction might not be over. This is the first time since 2015 that BTC-USD has dropped below the 200 EMA. Plus, there is a noticeable drop in overall volume since the price bottomed below $6000. There is lack of buying interest from big money folks and institutions. A continuation of bearishness is possible. A common sign of bearish continuation is a brief rally followed by diminishing volume. I'm looking to buy at between 3000 and 4000 if it continues to drop.

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They are waiting for the right price. So, we should wait for the lower low to come.