Bitcoin Trend Series / EP. 535 / The Jumb To The Upside Will Come In Waves

Time: 8.16 A.M. / GM+2 / 19th Mar, 2018 – Mon.

In our previous posts / 533 / & / 534 / we had forecast the trading range will be between 7.30K and 8.70K, the intraday high was 8.46K, and the low was 7.24K.

And as we said in our last update:

"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."

The 7.24K level was tested, the strong buy was provoked, the first jumb on the upside took place and as expected bitcoin price surges 10% as G20 will not crackdown on cryptocurrencies.

Let Us See What Next!

Looking at the chart, it is evident that all is going according to our forecast, the jumb from 7.24K took place to the upside, and the third impulse wave pushed the price to 8.47K.

The reason why I believe the bullish wave will push the price toward 9.4K
( The second jumb ) as this jumb will come in waves to lead the price to 10.15K and 11.70K.

Support : 7500.00 level (Major).
Resistance : 9400.00 level (Major).

Expected trading for today:
is between 7500.00 support and 9400.00 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.

YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.

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.

If You are New in Trading  --> Read Trading Education Center / Volume I.    

What You Know About --> Fibonacci Retracement in Trending Market.