Good Evening,
Price action on BTC is showing that it might need to retest the 8.8k level reached on May 1st. We dropped from VPVR resistance at 9.4k,
and are forming a bear flag on the hourly. The 4hr Stoch RSI is oversold, long positions on XBT are increasing, and sell volume is gradually increasing.
The BBands are squeezing tighter on the 4hr as well with a potential head and shoulders in play. Aside from technicals, market sentiment is overall bullish
right now, with a lot of charts proposing unclear divergences on the daily hoping for a breakout. With this said, a shakeout is likely, and the unsteady
price action is showing signs of lower prices.
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Philip Raytburg
Research Analyst
Price action on BTC is showing that it might need to retest the 8.8k level reached on May 1st. We dropped from VPVR resistance at 9.4k,
and are forming a bear flag on the hourly. The 4hr Stoch RSI is oversold, long positions on XBT are increasing, and sell volume is gradually increasing.
The BBands are squeezing tighter on the 4hr as well with a potential head and shoulders in play. Aside from technicals, market sentiment is overall bullish
right now, with a lot of charts proposing unclear divergences on the daily hoping for a breakout. With this said, a shakeout is likely, and the unsteady
price action is showing signs of lower prices.
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Philip Raytburg
Research Analyst