Bitcoin Trend Series / EP. 561 / The Infection is Over / Steem Bounty Reward

Time: 12.34 A.M. / GM+2 / 13 Apr 2018 – Fri.
Sorry for delay was caused due to some Healthy Problem.

Market Factors
Bitcoin price jumps $1000 in 30 minutes yesterday and surges to 2 weeks high due to the bullish reversal on March 30 as our forecast on the post
/ 560 /.

Over the net a ton of posts ( Everybody is discussing why! ) where the users have speculated the recent news that Bitcoin has been declared compliant with Shariah law – according to a report published online yesterday, April 12, and personally I do not think this was the reason behind the expected jump.

The rally in bitcoin is tied to the lack of news on Syria and the approaching tax filing deadline was seen as the main factors.

The speculation ( Infection ) of being part of cryptocurrencies is over!

I believe the negativity surrounding bitcoin is overdone and bitcoin price has bottomed out and will stay above the 6.49K for 2018.

• Mr. Daniel Worsley Chief Operating Officer of LocalCoinSwap said:

  "Bitcoin has resisted serious adversaries, and coordinated attacks designed to disrupt its functioning. It has survived all assaults."

  And this should be the spark for the predicted bull run.

• Bitcoin and other virtual coins were higher on Wednesday, as Barclay’s analysts say the the Bitcoin "flu season" is over.

• Abate said:

  "We believe the speculative froth phase of cryptocurrency investment – and perhaps peak prices – may have passed."

• Japan continues to prove its status as a bitcoin hub, with at least 3.5 million trading cryptocurrencies on the countries 17 exchanges, according to data from Japan’s Financial Services Agency (FSA).

Technical

• In our previous post / 560 / we had forecast the trading range will be between 6.49K and 7.60K. The intraday high was 8.08K and the low was 6.75K.

And as our prediction in last post:

"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."

And as our comment to this post : Healthy Move During The Neutral Trend.
Bitcoin price rallied upwards strongly to breach yesterday first resistence at 7.66K and the second resistence at 7.88K and for now it is settles around 8.00K.

• A swingy pattern might be formed between 7.38K and 8.26K but bitcoin could resume trading on fundamentals.

Sentiment

The trend is bullish as long as we are above 7.380K and our next target located at 8.260K followed by 8.643K ( close to 38.2% Fib Ext ).

Support 1: 7380.00 level.
Resistance1 : 8260.00 level.

Support 2: 6950.00 level.
Resistance2 : 8643.00 level.

Expected trading for today:
is between 7380.00 and 8260.00.

Expected trend for today :
Bullish.

Medium Term:
Neutral.

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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What You Know About --> Fibonacci Retracement in Trending Market.