Weekly Bitcoin Update
Analysis
- Nothing much to say to be quite honest due to the lack of volume and volatility.Bitcoin has been just ranging in the low $6
- Bitcoin has broken through the short term trendline and was rejected at the 24 EMA.
- The Weekly chart actually looks good and I can see Bitcoin retesting the mid-$6600s by Friday.
Sidenote
- Volatility AND Volume are at an all time low.
- Bakkt News is due in the first few weeks of November. Should they be approved they are doing a soft launch in November with a hard launch in December. They have the infrastructre and Bitcoin ready to start their servivces. They are just pending CFTC approval. Don't forget that CFTC Chairman Giancarlo is crypto friendly so the likelihood of if getting approved is good.
Personally, I'm not trading and only made one earlier this week which was the rebound after it rolled over. As I've stated previously, I believe that $5750 was the bottom and that $6k is our range until the market decides to move again.
That said, we are hosting another meetup this week with a little surprise for those attending. More details on that later.
Analysis
- Nothing much to say to be quite honest due to the lack of volume and volatility.Bitcoin has been just ranging in the low $6
- Bitcoin has broken through the short term trendline and was rejected at the 24 EMA.
- The Weekly chart actually looks good and I can see Bitcoin retesting the mid-$6600s by Friday.
Sidenote
- Volatility AND Volume are at an all time low.
- Bakkt News is due in the first few weeks of November. Should they be approved they are doing a soft launch in November with a hard launch in December. They have the infrastructre and Bitcoin ready to start their servivces. They are just pending CFTC approval. Don't forget that CFTC Chairman Giancarlo is crypto friendly so the likelihood of if getting approved is good.
Personally, I'm not trading and only made one earlier this week which was the rebound after it rolled over. As I've stated previously, I believe that $5750 was the bottom and that $6k is our range until the market decides to move again.
That said, we are hosting another meetup this week with a little surprise for those attending. More details on that later.