Quote from: JMD07 on April 04, 2018, 11:23:42 PM

Quote from: AICoin_Official on April 02, 2018, 12:18:49 PM

BTC fails to dip below $6,600 effectively, if youve learnt to use my theory of selling at breakthrough point, decent profits should be easy to make. Take a look at hourly chart:

[sniff]

BTC has been remaining supported at $6,600 in the past 3 sessions, volumes obviously shrink today, making the dip below $6,600 not an effective breakthrough, or we can say its fake.

Later, an upper shadow just brings price back above $6,600, bulls are temporarily guarding important levels and lack the momentum to initiate a reversal in trend as volumes remain low.

The minor bottom formed at $6,600 is expected to witness an oscillating rally, which is believed to lengthen the period of downtrend, if price manages to hold above it.

[sniff]

As mentioned in my previous analysis, strength of such rally will be limited, making it possible for price to remain above $6,600 in the past 3 sessions.

Volumes during current uptrend remain insufficient, indicating that the range of a short-term rally will be small.

$7,700 will be the ceiling for a rally as bullish momentum is limited and the overall downtrend remains intact, making it profitable for daily traders.

Original by Kuang Ren, translated and posted by AICoin Jami.

It seems that the daily traders had been controlling the market and they will not give us a chance to reach the price at $8k as they will counter it with their more dumps and get their profits easily.

Exactly, very sad that this will be the new trend, daily traders will take every opportunity to get the profits resulting in the price not getting as what we are expecting it to be.

I'm happy seeing the price getting to almost $7500 and before daily traders took over and now we are back below $7K the last time I check the price. Unless we see the bulls, the daily traders will simply book anything even if its just minor profit.