Bitcoin Trend Series / EP. 560 / Military Action On Syria + USA Tax Period Finishes = Steady Climb / Steem Bounty Reward

Time: 8.51 A.M. / GM+2 / 12 Apr 2018 – Thurs.

Market Factors

• We are now seeing similar behavior in bitcoin’s price patterns.
  A drastic crash occurred near the beginning of the year, causing the currency to drop by over half its value in just a few short weeks.
  We are seeing a few steady rises here and there / Like we did in 2015 / but nothing terribly noticeable has occurred and as you see Bitcoin price is no doubt struggling to keep its status, and continues to show signs of life.

• US President has vowed to hit Syria with a round of missiles for the Chemical weapons attack it made on its own citizens which killed at least 45 people including children. If US take military action on Syria,
  I believe bitcoin price most likely will boost soon.
  What your point of view about this military action on Syria? Leave your comment and tell us what will happen to bitcoin price! If US take this action.

• Calculating the number of crypto exchanges in the world is so hard than it sounds. Coinmarketcap lists 208, and there are dozens more listed on other cryptocurrency tracking sites. To increase the number for more than 500 Cryptocurrency Exchanges. Personally I see that is positive aspect.

Technical

• In our previous post / 559 / we had forecast the trading range will be between 6.49K and 7.34K. The intraday high and the low was inside this trading range.

And as our prediction in last post:

"Bitcoin price is not going down below 6.49K and for now, it seems to hold up quite well. The reason why I think bitcoin price is preparing for a boost."

Bitcoin is trading for just over 6.9K. After a 24-hour period of hovering at 6.8K.

• We’ve presently entered the second quarter of 2018. The first was marred by massive slumps and price drops galore. As we enter the second phase of the year, bitcoin’s price has shown Steady Climb during the last few hours and most likely prepare for a boost over the weekend.

• A scalping pattern at 6.575K - 6.943K was formed and might lead to wider swings but technical indicators mostly seem to be hinting at more gains ahead as bitcoin price found support at 6.49K area.

• After the wider swings, bitcoin price will try to clear the next roadblock at 7.00K major psychological level to lead the price toward 7.34K before making it at 7.88K.

Sentiment

Bitcoin price is not going down below 6.49K and for now, it seems to hold up quite well. The reason why I think bitcoin price most likely will move towards 7.88K but we still suggest neutral trend domination before April 17, when USA tax period finishes.

Support 1: 6490.00 level.
Resistance1 : 7600.00 level.

Support 2: 6240.00 level.
Resistance2 : 7880.00 level.

Expected trading for today:
is between 6490.00 and 7600.00.

Expected trend for today :
Neutral.

Medium Term:
Slighty Bearish.

Long Term:
Bullish.

The low of 2018:
5947.00.

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.

Remember in order to qualify for a @steem-bounty reward
/ Project by @knircky & @famunger /
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