Bitcoin Technical Analysis

26 août 2018As you can see the Stochastic is reaching its resistance, the price is at SMA 20 and it is touching a Fibonacci retracement level, so at the moment from a technical point of view it seems likely that the price will drop toward 6000 and 5800, so shorting Bitcoin at the moment is a more logical step. This also makes sense given that while the bears were out of the market over the past few days (low volume, only small move up) the price couldn't move up easily meaning that there are not enough traders with faith in BTC price.