Bitcoin Daily 6 April

[Boomerang Capital]

BTCIn BTC, the important Gann level seems to be 6500. Even if there is a final flush below that, it would be encouraging if that level held on a daily closing basis. Looking at an intraday chart of BTC (4 hours, top chart), it looks like a five-wave structure is nearly complete that would bring this last corrective wave to a close. Bollinger Bands seem to indicate good support near the 6500 level.

BTC weekly charts highlight the 50-week moving average at 6700 as another layer of support (second chart). If BTC fails and drops below 6500, it could be related to last minute selling for people to raise cash to pay for 2017 crypto tax bills. If you have the guts, any such wash out could be the rock bottom buying opportunity. Looking at levels above the market, a break out to 7600 would be optimal from a Gann perspective.

I have the charts but have no idea how to add them on here. sorry.

Twitter & Telegram Contact: @BoomerCapital

[romandos86]

I think, that bitcoin won't fall of below 6500 thousand dollars. If it will fall off, all world of cryptocurrencies will fail.

[forumsehat]

It is true that with the decline will provide an opportunity for us to buy more for those who have money, and nisa in sure to get a lot of profit.