FreeTierTrader

Rally lacking momentum but support continues to hold

BITFINEX:BTCUSD   Bitcoin
Momentum not yet strong enough to break 7800 as we continue moving sideways. New support is higher than our last low of 7100 which is a good sign that we've gotten stronger resistance to bears at this moment, my prior bullish sentiment although strong needs to be re-evaluated in the short term as the next few stages of this could make or break the rally.

On a less serious side it looks like we've got two Bart Simpsons formed nicely on this rally.

Some say that the sixth of every month is when Bitcoins price action hits peak levels, not a believer of coincidences but will be interesting to see how it might play out during the coming weeks.

Putting my money where my mouth is and will continue to HODL markets with strong conviction that our rally has only begun.

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