[Daily Discussion] Thursday, September 13, 2018

Where is Bitcoin going today?

Let’s analyse both the Bearish and Bullish bias:

Bullish Bias:

  • There has been all of the MA Crossovers, including for the first time in over 10 days, Bitcoin is trading over the 200 Day Moving Average.
  • There has been increased buy pressure from the entire market.
  • There are a lot of buys at $7100 – interestingly, seems like the market is calling for this area.
  • More bullish market sentiment in the area.

Bearish Bias:

  • Surpassing the $6500 area will be a strong as there are heavy sells in the area until $6850.
  • RSI Stochastic crossover: illustrating that there may be a dump coming back to the $6200 area.
  • There are a lot of sells in the current area that Bitcoin is trading.
  • It will be difficult for bitcoin to get above $6500.
  • A lot of buys in the $6180, this means that the market is calling for this area again.

Taken originally from

/r/BitcoinMarkets Thread