- The buyers appear to be consolidating the gains above $6,600 with the initial support at the 61.8% Fib level.
- “It’s so independent! (Bitcoin) It’s kind of like the internet when it was brand new… I was amazed at the technology behind it,” Steve Wozniak.
Bitcoin has corrected lower from the intraday high above $6,800. The king of digital assets has also broken the support during the analysis published earlier in the day at $6,700. However, the buyers appear to be consolidating the gains above $6,600 with the initial support at the 61.8% Fib level of the last high at $6,887.67 and a low of $6,238.28.
Subtle bear corrections are in progress, besides, the indicators’ signals are currently negative. The stochastic slope is downwards and the MACD is currently advancing into the bearish zone. It is important that the buyers maintain the support at the 61.8% Fib level, otherwise, a drop towards the resistance turned support at $6,600. The short-term trendline will also work as support above 6,600.
On the upside, the 50 SMA 15-minutes simple moving average is limiting gains on the upside. The next resistance is at $6,700, $6,750 and the ultimate intraday resistance at $6,800. Trading above $6,800 is likely to breakout further up towards $6,900 and eventually $7,000.
In other related news, Apple’s co-founder Steve Wozniak made an announcement recently that he is currently involved in a cryptocurrency startup. In a recent interview, Wozniak shared his excitement on the digital assets as their prospective future. He said:
“I like to keep up with things,” Steve Wozniak, 68, recently in an interview at the. Chainxchange blockchain convention explained, “Bitcoin caught my attention. It had so many unusual aspects for any technology I had ever heard of. Nobody is really known to be the creator. It doesn’t have any centralized [component]. It’s based on mathematics. There’s a certain number of Bitcoin that can ever exist.”
Wozniak is known in the tech world as a visionary businessman. Wozniak and Steve Jobs co-founded the world’s most valuable company in 1976. While Jobs was mainly handling the business aspect of the company, Wozniak was the brains behind the cutting edge technologies. He stated:
“Mathematics to me is like nature,” Wozniak continued in his admiration for Bitcoin. “It’s much better than human beings… I trust those things of nature more than what man makes up. Man makes up currencies, controls them, issues new US dollars every year; Bitcoin was immune to that. He added “It’s so independent! It’s kind of like the internet when it was brand new… I was amazed at the technology behind it.”
BTC/USD 15-minutes chart 
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