Bitcoin Trend / 01 - 02 - 2018
Expected trading for today is between 9300.00 support
and 11300.00 resistance
Since reaching a peak of almost 19700.00 level in early December after the introduction of futures contracts on regulated exchanges in the US, bitcoin price continues to face increased scrutiny from regulators, giving more time for bearish commentary to influence investors, and the negative news has buffeted bitcoin and other cryptocurrencies, with losses since the start of 2018.
keeping in mind, bitcoin price has historically fallen for January for the past few years, is the reason why my point of view :
The low of the 2018 was at 9200.00-9300.00 range, but bitcoin price wouldn't break above, towards higher prices until the middle of February 2018, after the Chinese New Year, which takes place on February 16.
Bitcoin price now is around 10150.00 / the crash zone/ and EMA50 keeps pushing it negatively.
Technical indicators are giving mixed signals, but bitcoin price / as I expected / seems to be finding strong support from here, so a bonus towards 11300.00 level may be underway.
Volume is low as traders remain cautious, but the bullish wave still valid supported by RSI, unless breaking 9300.00 / the low of 2018.
Breaching 10700.00 level and hold above it, will push the price towards 11300.00 / 61.8% Fib extention.
Breaking 9300.00 level and hold below it, will push the price deeply in the crash zone towards 6000.00 level.
Expected trading for today:
is between 9300.00 support and 11300.00 resistance.
Expected trend for today :
Bullish. Unless clear break to 9300.00 / the low of 2018.
Bitcoin is heading to land on corner of falling wedge around 8800 to 8400 mark. This is where most of the big players are setting their big bets. So I am hopful we will see a good bounce from that support zone.
Some how I agree with u
good views on bitcoin future and good heads up on the new year being february 16.
globalized markets require globalized response!
Cheers
Dante
the market is bearish cause of the tether situation hope it changes
Do you think Bitcone will fall out? Where are we going?
wow...!!! wonderful post @lordoftruth i like your Bitcoin Trend / 01 - 02 - 2018 post.. because it 's really important us.. thanks for share the post
Wow ! This is outstanding !! At fear zone now !!
I think this support will break because more the support is tested weaker the support will be so it may go down if it again test the support.
bitcoin is amazing currency and workable for current world
But I have no Bitcoins with me to engage in market..Any idea what would be the trend in price after two years?
nobody can predict the btc price for long run its good