Bitcoin Trend Series / EP. 551 / Bitcoin Advance Due To Bearish Exhaustion / Steem Bounty Reward
Time: 8.08 A.M. / GM+2 / 3rd Apr, 2018 – Tues.
Cryptocurrency struggled during the first quarter of 2018, with the capitalization of all combined cryptomarkets falling 59% since January, according to Coinmarketcap. But bitcoin is attempting to switch to a recovery mode on Monday after a major sell-off during the last week, as the current bearish trend starts to signal some signs of exhaustion and may come to an end in the nearest future.
In our previous post / 550 / we had forecast the trading range will be between 6.60K and 8.18K. The intraday high was 7.31K, and the low was 6.84K.
And as our last forecast:
"The next 48 hours, the price may correct higher towards 7.49K - 8.18K"A few bullish in play and another Possible Rise In Bearish Market towards 7.49K followed by 8.18K supported by MACD is expected.
- We still suggest the bearish trend domination, unless the price managed to breach 8.18K and hold above it. However, technically, bitcoin price is ready for a corrective rebound and managed to hold above the the turning point at 6.38K as we said in our post / 549 /.
"..BTC will stand up after it died on death cross and on the 2nd easter day will found the turning point."
So I still believe a break to the next traget at 7.49K is expected followed by 8.18K, where might face sellers at this level.
Support 1: 6600.00 level.
Resistance1 : 7490.00 level.
Support 2: 5947.00 level.
Resistance2 : 8180.00 level.
Expected trading for today:
is between 6600.00 and 8180.00.
Expected trend for today :
Slighty Bearish.
Medium Term:
Slighty Bearish.
Long Term:
Bullish.
The low of 2018:
5947.00 / IHS Bottom.
The high of 2018 (BitcoinTrader's Year):
14000.00 level / Expected.
The high of 2019 (Bitcoin Holder's Year):
??? The new all time high is expected.
investing considerable time and effort up front in
hopes of considerable returns down the road.
I'm so proud of my little blog, and so grateful to all of you
for support to keep it going.
I believe we all should appreciate your work. You showed us again that you're a really pro' analist.
Bitcoin will reach 8k for sure not because of the market but because you said that, lol.
Cheers! 🔥🔥🔥
Lol..
To All Fellow Bitcoin Bulls:
This is the time for us unite...
This is a bull market, this is the time to prove it..
Thanks for support..
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What i find really weird is the low volume.
Feels like the fact that this level held is pretty bullish, but looks like few want to actually buy. I find this quite confusing. Can you elaborate your thoughts on this.
I agree fully with you regarding the volume, the reason why I expect to move towards 7.49K followed by 8.18K where as I said in my post: "the price might face sellers at this level". As the trend still Bearish.
For now the trend is not bullish and what you see is Bitcoin Advance Due To Bearish Exhaustion!
Let us wait and see..
Thanks for support..
thank you!!!
Congratulations! Your submission earned you 0.095 STEEM from this bounty. You have received 0.095 STEEM from the creator of the bounty and 0.000 STEEM from the community!
I'm neither a bull nor a bear but a human. So I "wish" to see this bitcoin under 5K once and then a bounce to over 20K. All this within this year. No TAs, just a wish and I hope it will be fulfilled. What say? 😉
Thanks for sharing cryptocurrency news
This post has received a 4.21 % upvote from @booster thanks to: @lordoftruth.
Great analysis..... @lordoftruth
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Upvote done.....
Great analysis ...
THanks........
BTC still can retrace down this week?
can you please explain a little bit how the resistances are calculated. i draw the lines but cant see an obvious reason for that values. I see a resistance around 7318 for example