Bitcoin Trend Series / EP. 539 / Retest of 8.7K Level / The Trend Map
Time: 12.43 A.M. / GM+2 / 22th Mar, 2018 – Thurs.
In our post dated on / Feb 6 / we had forecast the low of 2018, and our target around 6K was accurately has hit last month where we've expected upside action.
In our post / 502 / we wrote about reverse H&S Pattern and the drop to 8.7K-9.2K which usually suggests a rise to around 14.5K-15K. But recent statements from Tweeter, Facebook and Google on forbidden of BTC advertisement and some other comments have pressed on BTC.
As a result, bitcoin price has kept this setup, but achieved a bit deeper target at 7.24K ( 5/8 Fib level ) the reason why I came up with the post
/ 529 / to confirm the upside reversal.Based on our chart, we could estimate the bull target at 13.55K that will creates agreement resistance, and potential bearish "222 Sell" Pattern.
Bitcoin is currently trading around 8.7K as we expected in our morning update / 538 /.
Based on the above; The short term trend is bullish and our target is 13.55K, the medium term trend is slighty bearish and the expected high ( for now ) of 2018 is around 14K.
Note; Be aware of drop below recent 7.24K low as it will mean irrational behavior for bullish market.
Support : 8200.00 level (Major).
Resistance : 10200.00 level (Major).
Expected trading for today:
is between 8200.00 support and 10200.00 resistance.
Expected trend for today :
Bullish.
Medium Term:
Slighty Bearish.
Long Term:
Bullish.
The low of 2018:
5947.00 / IHS Bottom.
The high of 2018:
14000.00 level / Expected.
The new all time high is expected on 2019.
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.
These contributions are the ones that are really needed in steemit, publications that
provide something good ... You have my congratulations, keep.
Cryptocurrency market very boring nowadays.
14 k will be quite heart warming, though most of your things hv been accurate, that needs a lot if appreciation
Nice crypto currency, I like it.
Thanks for sharing blog....
thanks for updating us once again lets have a crackling bullish day :)
I love the analysis. Great post. My target is $12000, then $17000.
This post has received a 3.14 % upvote from @booster thanks to: @lordoftruth.
Nice crypto currency, I like it.
Thanks for sharing blog....
Thank you for your concise analysis too much blah blah blah on Twitter -
Just glad it is not crashing at this point!
Posts are very useful to learn ..