Bitcoin Trend / 06-06-2017
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News & Daily price predictions
Expected trading for today is between 2600.00 support and 2990.00 resistance
If you check my post from 28/05/2017
Bitcoin Trend
You will see that I wrote:
Major Trend is Up.
We have two resistance zones for Bitcoin.
While the main resistance is right on $2847,
the second bitcoin price resistance is on $3250.
The new rally will move the price to $3,250 till the end of this year
Bitcoin Trend / 06-06-2017
Bitcoin rallied strongly to approach from our first waited target at 2760.00, waiting for breaching this level to confirm the extension of the bullish wave.
So the bullish trend will remain active conditioned by holding above 2319.00 level, pointing that the EMA50 keeps supporting the suggested bullish wave.
Expected trading for today is between 2600.00 support and 2990.00 resistance
Expected trend for today: Bullish
Every comment, everyupvote, every support is really appreciated.
Thanks For Reading,
@lordoftruth
Samer
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
Excellent resistance mapping @lordoftruth :)
Thanks Mate
Two months ago I posted this photo
I think ,everyone understand now
Why I posted it !!
$5K here we come!! :)
What method/reasoning are you using to locate resistance points, if you don't mind me asking!
I trade strictly from a resistance point basis...always nice to hear others perceptions!
"..I trade strictly from a resistance point basis.."
Good.
Most traders calculate support and resistance levels incorrectly, and to make their job even harder!
I will write sonn about that in Forex Education Center.
By the way, One of the simplest ways to do technical analysis is by using the pivot points.
Thanks for comment and support
Almost everyone does support and resistance levels incorrectly. People believe that past resistance points, fib, pivots, etc are support and resistance. Eventually there comes a tipping point where you realize that these are incorrect as well. The people that are trading these are showing you exactly where they will enter and exit. This is what you trade against...zero-sum in action!
Real support and resistance is found in the market where the stop orders are placed, and new orders are waiting. The "clustering" of the present orders in the current market make the resistance points that are worth trading.
Money is made where money is lost, flowing from a lack of experience to experience. For example....the current drop in Steem, taking out all the stop orders placed in the market. Now that those are liquidated, the market is mainly comprised of buy orders...and will continue its rise!
My two satoshi...
"..Real support and resistance is found in the market where the stop orders are placed.."
You are right Money is made where money is lost.
Thanks for comment
No prob bob. Good job on the forex educating. Keep it real.
@lordoftruth
Your analysis seems to be solid... But I guess we will see what the coming days and weeks will hold! Good luck! Thanks for sharing! Have a great day! :)