Bitcoin Trend Series / EP. 568 / The Crypto Indicator / Steem Bounty Reward

in bitcoin •  last year  (edited)

Time: 8.30 A.M. / GM+2 / 20 Apr 2018 – Fri.

Market Factors

  • Bitcoin price shows calm bullish to approach 8.64K and till this moment, the bullish wave was not able to clear this resistance for further advance towards 9.12K, due to Taking Profit Activity around 8.40K.

  • Most markets give us an indication as to whether or not investors are willing to take on more risk:

  1. Stock Traders look at CBOE Volatility Index (VIX), and fixed-income traders will look at the spread between high yield and U.S. Treasurys.

  2. In crypto markets, most common "risk on/risk off " indicator is the ETH/BTC spread. The recent rise in this spread might be a good things to come for crypto investors.

  • The cryptocurrency space and lingering geopolitical risks have kept bitcoin price supported.

  • Investors will reopen their long positions but most of

    "Buyers could be waiting to join in on a pullback."
    Based on the above we still suggest the bullish trend!

222.jpeg

Technical

  • In our previous post / 567 / we had forecast the trading range will be between 7.55K and 8.64K. The intraday high was 8.38K and the low was 8.10K.

  • Very volatile trading on a daily basis with candles repeatedly cancelling each other out. But we still believe as our previous posts, the price will face big difficulty to clear the monster resistance at 8.64K.

  • It is so hard to predict the next move, as the trend is slighty bullish and in the same time there are a small bearish risks ( pullback ) for Bitcoin, while its longer-term prospects look more constructive.

Sentiment
No change!

  • Based on the above a pull back to the pivot 7.55K might be on the cards, and the price might also test 7.24K ( Short term target 6.95K - 7.38K ) before the continutaion of the bull run.

  • The trend is slighty bullish as long as we are above 7.24K, while it seems as though 6.49K is going to hold in the long run for the majority of 2018.

Support 1: 7550.000 level.
Resistance1 : 8640.000 level.

Support 2: 7240.000 level.
Resistance2 : 9122.000 level.

Expected trading for today:
is between 7550.00 and 8640.00.

Expected trend for today :
Slighty Bullish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5947.00.

The high of 2018 (BitcoinTrader's Year):
13660.00 level / Expected.

The high of 2019 (Bitcoin Holder's Year):
25000.00 level / Expected.

Bounty.png

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

You must write a comment to the this post.

10559903_827991603901191_6823467013727099018_n.jpg

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.   

5000.gif

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  
  ·  last year (edited)

In general, the time for a big sell-off is over. Weak hands are already kicked off the market. Time to get in for clever investors. There are no more significant lows in expectation to be picked up. And the HODLers will support the upcoming rise to the moon.

·

I HODL all what I BGT between 250$ and 3000$..
Thanks for support..
Have a great weekend..

·

Congratulations! Your submission earned you 0.159 STEEM from this bounty. You have received 0.159 STEEM from the creator of the bounty and 0.000 STEEM from the community!

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvote this reply.

·

Congratulations! Your submission earned you 0.138 STEEM from this bounty. You have received 0.138 STEEM from the creator of the bounty and 0.000 STEEM from the community!

Give it a couple of weeks, by the time of consensus the bulls will be full on. Now it's time to get ready and comfortable with your positions. Cheers!

·

Congratulations! Your submission earned you 0.049 STEEM from this bounty. You have received 0.000 STEEM from the creator of the bounty and 0.049 STEEM from the community!

Maybe

·

Congratulations! Your submission earned you 0.024 STEEM from this bounty. You have received 0.000 STEEM from the creator of the bounty and 0.024 STEEM from the community!

Thanks for great post..i appreciate this cryptocurrency..all the best..

A bounty of 0.372 STEEM has been set on this post by @lordoftruth! You can read how they work here.

excellent post ..loving to your blog.thanks for sharing..

This post has received a 4.48 % upvote from @boomerang.

Hopefully the bitcoin price will still improve after this, and investors will remain anxious about this, hopefully be a good hope for us all, success is always for you and happy always @lordoftruth😊

Bitcoin to the moon back at it again :D

Crypto market jumps up to the $375 billion area. All other top currency are growing up continuously in last 7 days.. BTC increase 5.93% of last 7 day... And now BTC on fire...it exceed 8500+USD...Its good for blockchainers..