After a sharp decline, the BTC/USD pair has reached its first resistance at $8,650. In order to move towards $9,200, it needs to consolidate above $8,650. Failure to do so could rapidly bring the pair down to $8,200.
Consensus 2018, a three-day conference dealing with all matters related to crypto and blockchain starts tomorrow. Bitcoin price has risen following Consensus for each of the past three years.
I opened a long position at $8,250 with stop-loss order at $8,450 that I will update in the next few hours.
For Educational Purposes Only.
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