23 Oct 18 - Bitcoin Snapshot

in #bitcoin6 years ago

4H Chart - Price Key Points:

  • Formation maintains a possible symmetrical triangle (unconfirmed).
  • 20MA, 50MA and 100MA converging.
  • RSI and MACD looking for a bottom.
  • Stochastic RSI with a possible positive divergence.
  • Average volume remains low.
  • Models suggest possibilities of a minor buying attempt.

23 Oct 18 - BitStamp - BTCUSD.jpg

Possible Scenarios (unchanged):

Long: On a confirmed break above $6480 – Price Target $6714 | Probability: 40% | Signal Strength: 5/5

Neutral: Price Range $6350 - $6480

Short: On a confirmed break below $6350 – Price Target $6125 | Probability: 36% | Signal Strength: 3/5

Our Stance: Neutral to speculative long.