State of Mind - May 14th

State of Mind - May 14th


New day on the crypto market!

What is the feeling?

Today our feeling is quite mixed as evidenced by the total market capitalization. Indeed after bouncing yesterday, the crypto market is down again today with a capitalization that went from a peak to 410 billion dollars last night to 388 billion.

Why is the feeling mixed? This is the beginning of the 2018 Consensus event, and this event is traditionally bullish for the crypto market. This is why we will be attentive to a possible recovery of the rise over the next two days.

Bitcoin is currently under resistance at $ 8380- $ 8400 and although longer-term indicators are still bearish, the 30-minute MACD seems to be showing signs of reversals. If the 2018 consensus brings positivity in the market, the BTC could finally break its resistance to $ 8700 and finally continue the upward movement initiated in early April.

It will be necessary to be attentive these next 2 days and remain cautious by using stop-loss!

© 2019 Crypto-Addicts. All rights reserved.

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