Mixed messages from Bitcoin :-(

While the market participants are confused around the direction BTC, we stay one step ahead. There has been no significant news around bitcoin which should be providing us with a long term downtrend, so we should still be bullish. What is clear is that the market is in a stalemate and the weekly VWAP is a clear indication. Disorientation is screaming out on the charts with price consolidating under the monthly VWAP at $7800. If you don't already know, I focus my trading around the VWAP. With the Weekly VWAP in a downtrend, the price below $8000 which is the current Monthly VWAP and 30-day VWMA there is no inkling to buy BTC. As there seems to be buying pressure around $7600, we have to keep an eye on price as we will be in a tight range for the rest of the week.

WARNING: Price may break below $7600, and my theory will be a fall to $7200 before rebounding. I want to be very clear that you are taking a considerable risk of buying bitcoin around the current price of $7800. Bitcoin needs to close above $8000, which will show the true colours of the current market. The grey area on the chart marks confusion and consolidation. Place a few limited trades within the green value area, and if the price closes below $7200 jump ship for the down tend to $6200.

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

Next update will be on the 1st June 2019 - Thank you for your love and support.

Regards

Nathaniel - "The value Trader"
Little Big Movement