Ten days ago, we published an article on Bitcoin’s technical price action. Here’s the update. See the chart below.


Bitcoin-6-27-18-300x255 UPDATE 6-27-18: Should I Buy Bitcoin Now or Wait?


We identified (3) as the next support level. As it turned out, price has bounced off $5,777 and is currently hovering around that level.

The only big news surrounding Bitcoin at the time of writing is that the US government is seeking to confiscate $24 million worth of drug-sales-related BTC from the dark web, according to an announcement by the DOJ for the District of Maryland.

Technically, BTC is in a downtrend, and we’re looking to see if (6) might be the next price level or whether price will begin breaking out toward the upside, above (1) at $6374, and then (2) at $7790 at which point the downtrend will then be in question.

Stay tuned for more updates.


The risk of loss in the trading of stocks, options, futures, foreign exchanges, foreign equities, and bonds can be substantial and is not suitable for all investors. Trading on margin or the use of leverage is not suitable for all investors and losses exceeding your initial deposit is possible. Supporting documentation is available upon request. Trading futures, options on futures, and foreign exchanges involves substantial risk of loss and is not suitable for all investors. Carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources and only risk capital should be used. Opinions, market data, and recommendations are subject to change at any time. The lower the margin used the higher the leverage and therefore increases your risk. Past performance is not necessarily indicative of future results.