Bitcoin Trend Series / EP. 630 / Mini Uptrend & Accumulated Stops

Time: 8.01 A.M. / GM+2 / 21th June 2018 – Thurs.

• In our previous post / 629 / we had forecast the trading range will be between 6.039K & 7.090K. The intraday low was 6.576K and the high was 6.825K.

• Tight Range continues to dominate trading, to keep the price stability inside the bearish channel borderd by 6.300K - 6.900K that can be seen on the below chart and most likely the Mini Uptrend will get end soon.

• No Change to our bearish scenario, conditioned by the price stability Below 7.090K and when the Accumulated Stops will be triggered below 5.878K, the price will accelerate lower, right to our destination at 4.300K Area / Butterfly "Buy" within less than 2 weeks.

• At press time, bitcoin price is around 6.750K and our Bearish Overview remain valid, supported by RSI that look ready to turn lower to suggest that, the mini uptrend could end soon as buyers start to feel exhausted, while Stochastic signal that the bear pressure will come back into play.

Sentiment

Based on the above
We suggest / Bearish Trend / for today.

Support 1: 6039.000 level.
Resistance1 : 6900.00 level.

Support 2: 5878.000 level.
Resistance2 : 7090.000 level.

Expected trading for today:
is between 6039.00 and 7090.00.

Expected trend for today :
Bearish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5947.00 !!! / 4267.00 Expected.

The high of 2018 (BitcoinTrader's Year):
14469.00 / Expected.

The low of 2019: ???

The high of 2019 (Bitcoin Holder's Year):
36000.00 level / Expected.

YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.

Writing a series means playing a long game,
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.

If You are New in Trading  --> Read Trading Education Center / Volume I.    

What You Know About --> Fibonacci Retracement in Trending Market.   

If You Like To Read About Syrian War --> Click Here!