Bitcoin Trend Series / EP. 759 / 16th Jan. 2019

Recapitulation

• Bitcoin price trades negatively under 3.7K, as we expected in our last post. The short term trend is Bearish, while the stabilty below 3.920K most likely will push the price to test 3.106K. But as long as the price keeps trading above 3.106K invalidation area, BTC/USD may turn back to Bullish mode.

Market Factors

• Greenspan shared his thoughts regarding where the crypto markets are heading in the near-future while replying to a question regarding when the next bull run will be, noting that he believes it could be quite some time before there is another parabolic movement,

• After five years of successfully protecting user funds, hackers got the best of Cryptopia. Although figures are yet to be confirmed, hackers were said to have moved $2.5 million worth of ETHs just hours before the exchange switched off.

Technical

• The Bearish trend is supported by the EMA50 and Stochastic negativity.
• Holding below 3.920K represents the important condition to continue the Bearish move towards 3.106K.

Sentiment

The short term trend is Bearish

Support : 3106.000 level.
Resistance1 :3920.000 level.

Expected trading for today:
is between 3106.00 and 3920.00.

Expected trend for today :
Bearish.

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