News coming out of the crypto-sphere has been interesting sparking the early push up in Bitcoin prices as MicroStrategy, the world’s biggest holder of crypto currencies acquired another 11.9K of BTC. This pushes the business intelligence and software company further up in its lead of the largest bitcoin holder at 226,331 more than the entire US or China at 207,189 and 194,000 respectively. That said we have to point out that there is no major holder of the crypto with total bitcoins minted thus far at 19,740,756 with one being added every ten minutes.
Resistance
- 67295 – Intraday Consolidation Ceiling
- 66470 – Intraday Consolidation High
- 65506 – 50D Moving Average
Support
- 64015 – Low for June
- 63440 – Intraday Consolidation Ceiling
- 62321 – Intraday Low / High
BTCUSD’s attempts to recoup lost ground saw a long wick Thursday with prices pushing back above the 50D Moving Average only to end up with marginal gains. This as the daily stochastic has come off oversold levels. At this point we should also note that we continue to have a pattern of lower highs and lower lows in the 4H picture. Given all this we appear to have a binary situation, long tails in hourly charts from 64015 would be a buy as we continue to build a base while an engulfing close below said price could pave the way for further losses.
