Bitcoin Trend Series / EP. 550 / Sideways Action / Steem Bounty Reward
Time: 8.00 A.M. / GM+2 / 2nd Apr, 2018 – Mon.
- In our previous post / 549 / we had forecast the trading range will be between 6.50K and 7.49K. The intraday high was 7.06K, and the low was 6.43K.
Bitcoin price jumps a bit, then falls a bit. This has become something of a routine over the last days, while nothing huge appears to be happening as the bitcoin resistances seem so strong and the supports are holding. The reason why the price saw a complete reversal after the 12 hours bleed yesterday, regaining much of the day’s losses in a half hour.
We still suggest the bearish trend domination, unless the price managed to breach 8.18K and hold above it. But I believe that bitcoin's price nearing bottom and the low of 2018 at 5.947K will hold.
The next 48 hours, the price may correct higher towards 7.49K - 8.18K, but will face sellers on the upside to move again lower towards 6.60K, as with this volume and indicators most likely will see sideways action.
4 Hours MACD is slowly moving back in the bullish zone and 4-hours RSI is currently moving higher.
Support 1: 6600.00 level.
Resistance1 : 7490.00 level.
Support 2: 5947.00 level.
Resistance2 : 8180.00 level.
Expected trading for today:
is between 6600.00 and 8180.00.
Expected trend for today :
Slighty Bearish.
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.
Thanks for your daily update. At the moment i am long but we have heavy resistance around 7200$ if BTC breach fast over 7,3k$ and stay above we should see lvl8k$ after soon in my opinion. But once we get above 8k$ i fear we will eventually get many red candles again. It will be as always very bumpy ride. That is why at the same time we love and hate BTC :D
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Thank you very much @lordoftruth :) All best and cya around!
Technical Analysis can be tricky, right?
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maybe btc will be down and down again
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Cheer steem bounty
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This very useful information
Thanks sir👍
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I need to act on/trust my instincts. I was about to buy at 6.5k yesterday expecting the price to rise back to 7k, but i didn't trust myself. You say the price will go around 7.49k to 8.18k, so i think i will do some buying for the short term
Maybe BTC will go down one (or two) more times significantly (say in the 6.2 to 6.5 region that you were ready to buy but hesitate on pulling the trigger) before 7.2 to 7.6 to 7.9. Think it over. If you buy on the upside ~ 7.2 to 8.2 (and it is not a bull trap) and you catch a wave up you still might be able to catch her before near the top (esp if you are a HODLER/your price target (if you are trader).
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Im not understanding why bitcoin is going up and down. But maybe he will go up in the next few months
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At some point the descent must come to an end. I hope we'll find out in time. For some of us, it really depends a lot on
I still think we're one more leg due in the Bitcoin dip. I've maintained that the lowest we'll reach would be around 4k. Some people have also predicted 2k but I don't think we'll go that low. That would mean year long bearish markets.
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very useful information
and i like the big bounty program
#steem-bounty #Lordoftruth #crypto #lambo
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