Bitcoin Price Report for May 6, 2016
May 6, 2016 --- (ARCHIVED) Free Reports
Market Commentary (BTC): Finally we are getting a respite from the media onslaught created by CSW, and price is reflecting this reality.
Yesterday we saw almost a complete flatline just below the 450 $ level on low volume and rising oscillators, which is not a great sign technically.
Currently, the shorter term charts do not look all that great, however the medium term charts (12-hour and Daily) are starting to look very good. We still think that ultimately the 470 $ level will be broken higher as an upside resolution remains our preferred scenario, although we also think that we are not done with the consolidation quite yet.
For the complete forecast, all trade ideas, and Slack access SUBSCRIBE today!