Bitcoin analysis for April 09, 2018


Bitcoin (BTC) has been trading upwards. The price tested the level of $7.101. The cryptocurrency space is rarely short of drama, but there's something about Twitter drama in particular that sets tongues wagging and crypto influencers crossing swords. The suspension of the popular @Bitcoin account on Sunday has sparked furious debate. In today's edition of Bitcoin in Brief, there's all that plus some ludicrous claims from new blockchains. Technical picture looks bearish.

Trading recommendations:

According to the 30M time - frame, I found potential double top formation in the background, which is sign that buying looks risky. I also found a hidden bearish divergence on the LBR oscillator, which is another sign of weakness. My advice is to watch for potential selling opportunities. The downwrad targets are set at the price of $6.790 and at the price of $6.470.


$7.101 – Intraday resistance

$6.872– Intraday support

$6.790 – Objective target 1

$6.470 – Objective target 2

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