Bitcoin Price Analysis and Short Term Forecast: June 6, 2018

6 thg 6, 2018

The video provides a look at three indicators and technical analysis methods used to evaluate price trend and strength. It seems BTC is shaping up for a hard decision over the coming weeks or months within a falling wedge of a breakout to the upside (re-igniting the bull trend back to 20k) or downside (breaking through 2018 lows of 6k).

For those of the listeners and readers who aren't familiar with the NVT Ratio and its relation to the current price action, I have include a link to my article:
hackernoon.com/mathematics-of-bitcoin-bottom-fishing-e3a615747dd5

The article walks you through the details and why the fundamentals are important to take into consideration for future price action.

9 thg 6, 2018

Ghi chú

Over the past 5 days, blockchain transaction volume has increased, on average, by ~42% and finishing yesterday (June 8th) at 7.2B. Market cap over the same period has remained flat with yesterday's finish at 131.2B.

NVT Ratio as of June 8, 2018 = 18.27
5 day average NVT Ratio, ending June 8, 2018 = 20.49

This is very good progress in closing BTC's NVT Gap to an acceptable level, i.e. between 10 and 20. This pattern will need to continue and strengthen over the coming days/weeks as the price breakout showdown approaches within the BTC falling wedge.