Bitcoin Bull Run Is It Time To Buy Now?
Looking at the chart, the price is mostly consolidating, but it seems to be losing momentum above $6,400. Therefore, there is a risk of a downside break towards $7,250 and $7,140. If it succeeds in holding the trend line support, it could attempt to break the $7,555 resistance. Above this, bitcoin may well accelerate gains above the last swing high at $7,605.
-Bitcoin price is consolidating below a key resistance at $7,555 against the US Dollar.
-There is a connecting bullish trend line forming with support at $7,390 on the hourly chart of the BTC/USD pair (data feed from Kraken).
-A break below $7,380 could trigger a major downward correction towards $7,100.
My Thoughts: Big Bull - Bitcoin much like the name, it is the fore-runner, will take the largest gains/losses.
Large banking/governments are driving market sentiment via media , when one sneezes they all have a cold, buying Bitcoin is expensive for most, be cautious when venturing into trades.
Keep in mind that moving into the realm of cryptocurrency you need a local exchange to convert fiat currency into cryptocurrency, be aware of saving passwords and identity numbers of wallets separately for safety sake.
Local exchange may only deal in Bitcoin, Bitcoin Cash, Ethereum or similar, you are now able to transfer the digital currency into an exchange of your choice to purchase smaller coins available.
Not all exchanges will use the coins you wish to work with, which requires having more than a few exchanges available to work within.
BITCOIN and the larger family of cryptocurrencies are slowly convincing those holding the purse-strings at the world’s biggest banks that the time is right to for U-turn on cryptocurrencies. One expert told Express.co.uk that the “whole ecosystem could benefit” if big banks “diversify their investments” into crypto.
“Being part of the crypto sector for a while, the interest from Institutional investors is rising on a daily basis, and its hard to believe that a financial powerhouse such as Blackrock is limiting itself to just research into cryptocurrencies.”
My Thoughts: Mamma Bull - Ethereum, XRP, Bitcoin Cash, EOS and others, all good projects to consider. Learn to read market cap, volumes, watch pricing. With so many projects running throw caution to the wind - research crypto.
Again, we want to state that our philosophy is to provide as much information as possible to our users, so that they can form their own conclusions and interpretations – and not introduce our own bias into that mix.
My Thoughts: Baby Bull - Superior Coin, Steem, SBD ideal value for beginners to learn how to adapt into cryptocurrency, using exchanges. Most reading this are already on Steemit earning via content creation, Kryptonia (Superior Coin) adds value to moving content to anywhere with a URL. Using the right tools gives great results.
If you are interested in trying your hand at trading smaller crypto where you may lose some, or gain a little follow smaller coins on Coinmarketcap and watch the movement with their tools available. Many teach how to trade find them on You Tube, Steemit sites, always research and investigate, it is your risk and your reward if you select a good small coin that grows, I support all three mentioned above.
Cryptocurrencies have become news again some will start doing hard driving sales pitch, there is nothing wrong with people being excited about blockchain technology, for an individual I feel learning via investigating each project prior to doing anything, going in with your eyes open to pitfalls, possible scams is better than crying after the fact in hind-site.
Today news is flooding in that governments and banking fraternity are looking seriously in to blockchain technology, where and how it could be used to solve a variety of problems, we need to be ready to work with crypto, today is as good as any.
Want to buy some SUP with Steem or SBD via @sydesjokes
This is my opinion, and is not intended as financial advice.
Wealth diminishes with usage; learning increases with use. ~ Nigeria
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