Prediction Of The Week Bitcoin Needs To Breakthrough $6,300 In Order To Rally, Says Fundstrat Analyst
Fundstrats Robert Slyumer believes that Bitcoin needs a short-term breakthrough at $6,300 in order to reverse its current downtrend. According to his analysis of Bitcoins 15-day moving average charts as of May 2018, Slyumer noted that the resistance level is $6,300 to $6,400, with a critical stop level at $5,800 to $5,800.
Come back when the trend is bullish, everything else is just gambling and not trading.
If you wait until the trend is bullish, then you might miss decent buying opportunities, and you would also likely be engaged in a more pussified perspective regarding bitcoin fundamentals (meaning lacking confidence in bitcoin fundamentals). But, hey, to each his own, right?