Good afternoon,
As exptected BTC made a sharp movement, but the lack of volume couldn't bring it any higher. We fell into the 9k range and are currently ranging just above 9.1k. The BBands were compressed highly at ~9.4k, and we fell through the Span A cloud to VPVR support in this range. There was compression on the 4 hour EMA's looking at the Guppy (not pictured), which was at VPVR resistance. There was little support in that range, and a bearish foundation followed. We are likely to fall further as we fell through the Ichi cloud, and may very well be forming a bear flag on the smaller time frames. While the Stoch has reset on timeframes such as the 30, the consistent retests in the last day of this range are signs that more bearish structures are to continue.
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Philip Raytburg
Research Analyst
As exptected BTC made a sharp movement, but the lack of volume couldn't bring it any higher. We fell into the 9k range and are currently ranging just above 9.1k. The BBands were compressed highly at ~9.4k, and we fell through the Span A cloud to VPVR support in this range. There was compression on the 4 hour EMA's looking at the Guppy (not pictured), which was at VPVR resistance. There was little support in that range, and a bearish foundation followed. We are likely to fall further as we fell through the Ichi cloud, and may very well be forming a bear flag on the smaller time frames. While the Stoch has reset on timeframes such as the 30, the consistent retests in the last day of this range are signs that more bearish structures are to continue.
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Philip Raytburg
Research Analyst