Bitcoin Trend / 05 - 02 - 2018
Expected trading for today is between 6800.00 support
and 9400.00 resistance
Bitcoin had a disastrous week, the cryptocurrency plunged and hitting 7600.00 the last week, before moving higher, and after the sharply decline below the crucial support 10700.00, won’t be easy for the recovery to continue above the resistance at 9400.00, the reason that I still expect 6800.00 target to be reached, followed by rally from this level.
Bitcoin price now is around 8300.00 / the crash zone/, and in addition to the latest negative news, Lloyds Banking Group Plc said on Sunday it would ban its credit card customers from buying Bitcoin and other cryptocurrencies.
Technical indicators supports the chances of continuing the bearish trend towards 6800.00 level.
_ The negative pressure coming by the EMA50.
_ 4-hours MACD – Currently reducing its bearish slope.
_ 4-hours RSI – Will be hard to move back above the 50 level.Breaking 8000.00 level and hold below it, will push the price deeply in the crash zone towards 6800.00 level, around the middle of feb, before any new attempt to raise.
Breaching 9400.00 level and hold above it, will cancel the bearish wave and push the price towards 10700.00 level.
Expected trading for today:
is between 6800.00 support and 9400.00 resistance.
Expected trend for today :
Bearish.
Short term:
bearish.
Medium Term:
Bearish.
Long Term:
Bullish.
The low of the year:
Might be around 6800.00 level.
The high of the year:
Might be around 25000.00 level.
Nice analysis of bitcoin friend and yes we need to wait for that big dip before buying and around 6800 looks like right price to buy in current circumstances, thanks for sharing such helpful analysis of btc with us, Stay blessed
BTC could easily go down to $2K, before finding a new base to get support
https://steemit.com/bitcoin/@davebrewer/hodlers-can-be-uninformed-morons-do-you-understand-you-are-not-buying-lottery-tickets
Good blog ..
I am really appreciate to see this post ...
Carry on. best of luck dear 😊
very useful information I am very interested to wait for the next article
The Expected trading for today's between 6800.00 support
and 9400.00 resistance will finally be the best news for all?
Thanks a lot for sharing your valuable post....
Best of luck..
I will still
wait your next post....
Thanks for sharing
Thanks for sharing information about crypto keep it up i am just waiting for your upcoming post
I have to say you and these charts are awesome it really sounds like you know what your talking about when it comes to crypto. I so hope your wrong on the 25k for the year end high i want to see more like 30k. If every body would stop panic selling and just hold the coin we would be fine but no you have newbies and profit takers out their, just hold for crying out lound
@lordoftruth thank sir I feel like the futures are heavily affecting the crypto market, we need a better pairing systemn
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