Is BTC Stalling Around 6520 This Morning? (6-14-18) My Thoughts.
I've been looking at the Bitfinex BTC/USD charts on TradingView using the 1 hour timeframe and here's my take on it. Disclaimer: This is just what I think, and I'm not giving you any financial advice.
There's resistance around 6520 and BTC has been hanging around that area for several hours now. It did surpass it a couple times, but just by a little and came right back. Also, the 18-avg of highs and lows are sweeping back up to meet it, meaning that if BTC stays around this price for much longer, it will no longer be over the 18-average of highs anymore, which can be seen as bearish. It already rose from about 6100 since yesterday morning, and considering the pattern we've been seeing lately, I think there's a pretty good chance it's already had it's short-term rise from the recent low and that was it. We'll see what happens though.
Again, I'm not giving advice, and please don't trade based on anything I say. I've been getting into analysis for the past few months, and this one of the first times I've ever posted my thoughts on what I think of the current markets.