Bitcoin Trend / 11-10-2017

 Expected trading for today is between 4600.00  support and 5100.00 resistance  

CNBC reports of a mysterious flash crash in the price of Bitcoin. According to them, the crash took place at around 9am UK time. Based on CoinDesk’s price index, the value of the digital asset fell from a high of $4,867 to a low of around $4,200. It was down $600 for the session (12%) but recovered fast returning back to around $4,780 just ten minutes after the supposed crash.

For now, there is little information circulating about this morning’s flash crash but no exchanges are currently under investigation. As CNBC hint, it may simply be a mistake on behalf of CoinDesk.

Source

Price tested 4900.00 level close to the record highs
and might be due for a quick pullback to support..

So What Next..

Contradiction Between Technical Factors
Stay Aside

• EMA50 supports the chances of extending the bullish wave.

• The 100 SMA is above 200 SMA so the uptrend is more likely to continue than to reverse.

• Breaching 4980.00 level and holding above it, will push the price towards 5500.00.

• Bitcoin price could stay supported as geopolitical risks ( North Korea and South Korea ).

• Stochastic suggests that bears could take a break soon.

• A break below the 200 SMA, however, could be signal of a reversal.

• Breaking 4236.00 and hold below it will stop the bullish trend.

Expected trading
for today is between 4600.00 support and 5100.00 resistance.
Expected trend for today: Bullish, but quick pullback may happen any time!

Source

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