Bitcoin Price Analysis: Selling Pressure Leaves Macro Level Untested

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Addicted to Profits takes a unique contrarian approach to market prediction. Our linchpin is in the fundamental analysis of stocks. We search depreciated commodities, conduct honest research and make successful predictions which often results in explosive investments.
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Summary:

  1. The bullish market structure that we have established over the last couple of weeks remains intact, despite the strong round of selling that the bitcoin market saw a couple of days ago.
  2. The weekly 50 exponential moving average (EMA) is currently in the process of being tested but the market has been unable to close a weekly candle above it.
  3. The intraday levels have shown support following the round of selling.
  4. If the current levels do not hold, we can expect to see a test of the…

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