Bitcoin Trend Series / EP. 534 / THE SUN TO RISE AGAIN.
Time: 9.16 A.M. / GM+2 / 18th Mar, 2018 –Sun.
Writing a series means playing a long game, investing considerable time and effort up front in hopes of considerable returns down the road. I'm so proud of my little blog, and so grateful to all of you for support to keep it going.
For now, we have to keep an eye on the reasons of the last decline:
G20 Summit ( 17th - 20th of March ) where all the financial representatives of countries all around the world have their annual meeting to discuss matters at hand, which will also include the hottest topic at the moment.
USDT - One of the biggest concerns in the market place which everyone tries to avoid talking about - Every tether is always backed 1-to-1, by traditional currency held in their reserves that they failed to show on their recent audits - Everybody is waiting for the balance sheets.
My point of view, the bitcoin price dip on the "Fear Zone" was temporary and the bottom was found at 7.53K where I can expect a jump to the upside to the "No Trade Zone".
Remember that for this fall to stop for good we need to see impulsive purchase orders after the critical price at 7.5K was reached. The reason why might the price to visit 7K - 7.3K ( for short time ) in order to provoke strong buying.
Note; Clear break below 7.362K ( Close to 78.6% Fibonacci retracement ) will cancel our forecast and push the price to "Histeria Zone".
Support : 7300.00 level (Major).
Resistance : 8700.00 level (Major).
Expected trading for today:
is between 7300.00 support and 8700.00 resistance.
Expected trend for today :
Slighty Bullish
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00 / IHS Bottom.
The high of 2018:
25000.00 level / Expected.
Have Great Sunday..
Keep up the great work. I can feel a bump in the near future. Cheers!
As Warren Buffett said, “(Be) fearful when others are greedy and greedy when others are fearful.” :-)
I hope you are right. I am not trader. But my (our) Steems and SBDs are very depending with BTC.
It’d be nice to see some volume to verify this
this is the testing month and after that we are all clear up
Your posts and pictures are beautiful and make everyone entertained. thanks for sharing @lordoftruth
For future viewers: price of bitcoin at the moment of posting is 7703.00USD
G 20 is a big thing for crypto lets hope for a good decision there
best writing,thanks
Your blog is doing great!