ralis24

Bitcoin - consolidation phase

COINBASE:BTCUSD   Bitcoin
Appears as if we may be in for a dull summer if bitcoin consolidates for the month of July. The 8/24 ema's need time to squeeze back together and the Fisher Transform and MACD need to get back to a decent level for re-entry. I'm sure the bot's and algo's are programmed for at least a dip to support near the 10k region. I know many traders like to eyeball the stochRSI but in sideways trading action an oversold reading can last for many days. I'll be watching the ParSar in combo with the FT and 8/24 ema's as usual for a decent re-entry. However any break of resistance at 12475 should be bought with stops just underneath. Until and if that occurs proceed with caution and look for a dip to support.
Penafian

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