Bitcoin Trend Series / EP. 543 / Successful Break & Close Above 8.7K is Needed

Time: 8.00 A.M. / GM+2 / 26th Mar, 2018 – Mon.

In our previous post / 542 / we had forecast the trading range will be between 8.37K and 9.60K. The intraday high was 8.67K, and the low was 8.32K.

• Our bullish scenario toward 13.55K still valid supported by 3 Drive Buy Pattern and Reverse H&S Pattern / 542 /. That will try to push the price to break the neckline around 9.26K to confirm the potential climb to our first target located at 9.6K.

• 4-hours MACD is about to move back in the bearish zone and bitcoin price stuck between 8.2K and 8.7K. So the price must hold around 8.3K area to avoid any further decline and a successful break and close above 8.7K is needed for buyers to gain the control.

• Large cryptocurrency speculators reduced their bearish net positions in the bitcoin futures markets the last week, according to COT data released by CFTC on Friday.

Support 1: 8300.00 level.
Resistance1 : 9600.00 level.

Support 2: 8119.00 level.
Resistance2 : 10400.00 level.

Expected trading for today:
is between 8300.00 support and 9600.00 resistance.

Expected trend for today :
Slighty Bullish.

Medium Term:
Slighty Bearish.

Long Term:
Bullish.

The low of 2018:
5947.00 / IHS Bottom.

The high of 2018 (BitcoinTrader's Year):
14000.00 level / Expected.

The high of 2019 (Bitcoin Holder's Year):
??? The new all time high is 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.