Today’s BTC article, more than a real technical analysis, underlines the uncertainty about the current bitcoin trend: Bullish or Bearish?
Following the rupture of the raising wedge, the price of bitcoins fell from around € 8,000 to the current € 7,700.
In picture 1 the current situation on the BTC / EUR chart on 1 day timeframe:
Currently we have:
- the indicator RSI on a 1 day timeframe which is still in a hyper-protected area;
- A static resistance dictated by the relative maximum of 22/03/2018;
The situation is therefore neutral , or there is much uncertainty.
For those who want to remain in the market, a possible approach is to set very stringent stop losses: they could trigger a vacuum but better than risk big losses.
For those who want to be safe in this situation, it may be appropriate to leave the market and see how the situation evolves.