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.
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.
Don't know what 8.7K is about, but Closing above 9.1 for the short term bull trend and above 11.7K for the general bull trend is what I am looking for.
Bitcoin trand nice information bro. Thanks
Not great these daya hate to go down
For future viewers: price of bitcoin at the moment of posting is 8440.20USD
the high is so low now it makes me feel sad hahha but thanks we have your trading posts always :D
This post has received a 5.41 % upvote from @booster thanks to: @lordoftruth.
Hopefully It does break to 9k market again soon then sky rockets from there. Random question how did you hyperlink on Steem? I've been trying it just doesn't work on my laptop.
the major resistance level will be tested today lets see
Thank you friend @lordoftruth for your market research! Have a nice day!
the low supports got broken today time to buy