Bitcoin Trend / 02-10-2017
Expected trading for today is between 4200.00 support and 4600.00 resistance.
The last week was a good one for Bitcoin price..
The price traded higher and broked 4236.00 level and
settled above it..The overall trend is still positive, and the price try to move
towards $4400..Breaching 4400.00 level and holding above it, will open the way
to test 4980.00..Clear downside break and hold below 4236.00 level, might move the price to test 3776.00 level again before any new attempt to rise...
Expected trading
for today is between 4200.00 support and 4600.00 resistance.
Expected trend for today: Bullish.
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@lordoftruth,
Yeah it looks like an uptrend! By the way I heard about another hardfork, so what do you think friend? It might drop the price or not? Anyway, useful analysis report you just shared with us!
Cheers~
The internal battle over SegWit2x might cause some issues. There is a battle over if this is needed at this time and it's the type of issue that can cause a dip in price based on how it plays out IMO.
Good comment..
I agree with you..
This dip may be happen around the end of Oct..
That is about the time I would expect to see a nice dip, 20-35% pullback is in the realm of possible with it taking 2-4 weeks to recover the losses.
The end of Oct is also a critical date for China as the larger exchanges had until then so it will add a little extra volatility to the market.
Bitcoin itself is already SegWit activated,
the main feature of Bitcoin SegWit2x is its 2mb block size.
Is Bitcoin going to split again in two in November 2017?
I do not think so..
Let us wait and see!!
nice update @lordoftruth. It will be helpful for traders
Thanks Lordoftruth for the analysis. Overall trend is still positive but it should pass 4970 level decisively before setting up one more new high.
nice informationl. it's useful.
Thanks for sharing @lordoftruth
The charts are looking good right now and without some surprising news that effects the market I would think we hit $4600-4700 before the week is over. Looks like a solid uptrend after shaking off the China caused pullback. But that pullback was probably good for the market as corrections like that tend to make for more sustained runs.
Good job! @lordoftruth
I welcome this uptrend, I was fortunate to accumulate on the dip :).
After that near 20% difficulty increase in BTC coupled with the recent decline in BTC, my cloud mining payouts were hurting, so this price trend upward helps make up (reduces the daily management fee).
Good work and always be happy 💙 @lordoftruth
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Thanks for sharing such technical information, however I believe Bitcoin will reach 5000 very soon.