Bitcoin Trend / 06 - 02 - 2018 / Banks & Crypto War
Expected trading for today is between 5900.00 support
and 8600.00 resistance
Do you remember in Dec 2017, when bitcoin reached 19700.00 level
( When I moved my funds from BTC Wallet to USD Wallet ), people all over talked about BTC. Heard about it in the que at the local supermarket, people at work started showing off their crypto portfoilio and claiming everybody should get rich too. People that went into debt and took out 2 and 3 loans on their property!Do you remember, in Jan 2018, when I posted about the crash zone and about the decline below the crucial support 10700.00!
- Do you remember in Feb 2018, When I posted that bitcoin price will move deeply in the crash zone towards 6800.00 level before the middle of feb!
- Do you remember the parody "Bitcoin Trend / White House" that I posted, just to attract reader attention that we are under the war ( Banks & Crypto War )!
- Now the talk is quiet! 6.8k reached and the price of bitcoin tested 6.1 k
( 76.40 % Fib Retracement ) as expected.
The game between Bitcoin and major banks and credit card issuers, is so hard, the reason why you see bitcoin price now at 6.1k.
Could this because the banks are scared of losing power to the digital assets?
Are major banks doing so because they are scared of losing power to the decentralized world of blockchain?
Could this because they can't control and make money off of the cryptocurrencies the way they can with other assets?
A lot of question, no clear answer!
We have to wait and see the result of final battle of the war ( Banks & Crypto War ) !!
For now, most of financial analysts, see the bearish trend will continue to reach 5500.00 followed by 4530.00 and lower towards 1800.00!
My point of view the low of the year was reached / 6000.00 level / based on Fib Retracement and Ichimoku cloud, the reason why I moved back yesterday my funds from USD Wallet to BTC Wallet.
So for now I am bullish and I think that the price will breach 8600.00 level around the middle of feb.
Let us wait and see!
Expected trading for today:
is between 5900.00 support and 8600.00 resistance.
Expected trend for today :
Neutral to bullish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of the year:
6000.00 level.
The high of the year:
25000.00 level.
Bitcoin has almost completed the cycle and we should expect good bounce from $5500 level. It is almost 2 months now since bitcoin started falling and now we need 1 month of rise. Well, this is my expectations and I hope they come true and I am sure most of the traders will be happy with these expectations.
The perfect time multiple our money is getting near. We just need patience for this.
Correct said
What's your opinion about bitcoin cash?
I never got interested in bitcoin cash
Same here ..about bitcoin cash
My opinion is bitcoin cash would win in the long run. Let's see
On what basis?
Best news of this day! If you are right with this analysis, I wll call you "my master" from this day foreward!
Thanks for your daily view!
Thanks..
But no Master here ..
I just trade what I see and I hope that I still see clear..
Thanks for great support..
fantastic analysis friend and i just wish I had some extra fiat in my pocket to pick up some crypto at such low levels. Definitely a buying opportunity for sure.
Looking at the chart bounce back will occurred when the price reach as low as 6k, keep my finger cross cause 5.8k is the lowest and rebounce level.
Prediction have been mentioning all about once it bounce in the mid of Feb it will reach highest at 10 - 15k..
I do hope it will by end of this month.
I'm even expecting it to go down to 4K and if that happens, it's time to buy and buy ahaha
I can understand why a lot of people are afraid, especially if there is a lot of money involved, but honestly, the only way can lose is if you sell out at a losing position. I figured that I would either come out ahead or lose it all. Why not. It's all kind of a game, isn't it?
I see that you are neutral for the short term, but how long would that be by chance? do you think a month or so will be enough before another bull run, or do you think it's going to be more like 3 or so?
I think the bull run will start around the middle of feb
Note the bull run will start above 8600 level
Ok, thank you for the response! I didn't see it until now, but I appreciate it!
Do you remember good old times? Where you was able to look at your portfolio and smile?
I BEARly can...
This dip is necessary my friend. Market trend is always up and down. It's never "always up".
Cheers to that, this is going to be a monumental point where it lets the little guy back in and it may take the basement to initiate it, but it will initiate. Once that takes place prices will soar once again.
This is a fantastic analysis of what is going in the crypto market. Hopefully the market will recover soon and we will get good value for our investment.
Thank you for your analysis.
This has stopped me from panicking, and I will increase my bitcoin holdings again at the right price.
Good luck@lordoftruth
i knew all about it that's why following you from the start : )
A very good and clear analysis of the short and long term bitcoin market. Thank you @lordoftruth!