Bitcoin - Its prime time for bitcoin - BUY or SELL?

12 Jun 2019

In my last post on BTC, it was clear that the signals to buy were not conclusive. In the previous 7 days, we have been trading within a stable range between $8100 - $7625. With this long-lasting consolidation, we are still in a bear & bull trap. Now! with the potential to close above the monthly VWAP (Yellow line) the bulls are starting to taking the lead. This does not indicate a strong buy as the 30-day VWMA (Pink line) is another psychological barrier for buyers. This week is crucial for BTC as we have already seen a 20% pullback from this year high at $9000. At the current price of $8100, BTC pushed back towards $8000, giving HODLers 10% of what they thought they might have lost.

You can now join the private IONIC Capital telegram group, where I am building an open community to talk about investing and capital preservation.

IONIC Capital Telegram

LITTLE BIG MOVEMENT BLOG

Plus, check out the blog, remember to like this post and follow me on Tradingview

Conclusion: With the price below the 30-day VWMA (Pink line), Bitcoin is still in a consolidation phase. We need to see the price move above the 30-day VWMA ($8300). If the price of bitcoin drops below $8100, be happy that you can purchase BTC in the value area. Stay patient with bitcoin because once we have broken the $8450 POC, then we will be heading for $9200.

"Patience is the key to any market" - Nathaniel.

Thank you for your love and support.

Regards

Nathaniel - "The value Trader"
Little Big Movement / IONIC Capital