Bitcoin Trend Series / EP. 575 / Speculation & Confusion / Steem Bounty Reward

in bitcoin •  3 months ago

Time: 9.15 A.M. / GM+2 / 27 Apr 2018 – Fri.

Market Factors

  • In April, bitcoin price has appreciated an impressive 40%, and the bullish trend may well be resumed after the healthy correction, as the price is sinking to lower levels, which look more attractive for opening new long positions. The industry fundamentals look much healthier, when the market has survived all the regulatory mess at its early stages.

  • There is a lot of positive momentum as far as Bitcoin is concerned. Even though the price is struggling a bit right now, we are convinced things will keep improving and this recent price rise will cause a lot of speculation and confusion.

  • Bitcoin price showed signs of bearish as the market became overbought after hitting the high of April at 9.767K, as we expected in our post / 572 / to tests the critical support at 8.643K. But the bullish trend remains intact as we wrote in our previous post. The reason why bitcoin price bounced bullishly after testing 8.643K level yesterday, supported by the EMA50.

Technical

  • In our previous post / 574 / we had forecast the trading range will be between 8.350K and 9.185K. The intraday high was 9.320K and the low was 8.665K.

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  • As we can see the rejection from 9.767K pushed the price lower and the recent correction try to form the right arm of our reverse H&S pattern as we wrote in our previous posts / 572 / & / 573 /.

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  • Note; Clear breaking of 9.911K will cancel our scenario regarding the reverse H&S.

Sentiment

Based on the above, the trend for today is slighty bullish and as the current 1D candle cohesion resembles the 13-17 April sequence with mirror candles ending up with a strong bullish run (RSI = 56.682, MACD = 273.500), a swingy move between 8.643K and 9.400K for today is expected and most likely our current reserve H&S will work.

Support 1: 8643.000 level.
Resistance1 : 9400.00 level.

Support 2: 8350.000 level.
Resistance2 : 9767.000 level.

Expected trading for today:
is between 8643.00 and 9400.00.

Expected trend for today :
Slighty Bullish.

Medium Term:
Bullish.

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.

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Bitcoin is unpredictable and manipulated by whales
So when whales done manipulation then its come back to 5k again
till then enjoy green market all coins are up with steem & SBD

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This comment has received a 0.33 % upvote from @booster thanks to: @pritam20.

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Congratulations! Your submission earned you 0.095 SBD from this bounty. You have received 0.000 SBD from the creator of the bounty and 0.095 SBD from the community!

thanks as always!
i wonder what you think of this mt gox drama happening> do you think it will cause a further dip?

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Congratulations! Your submission earned you 0.178 SBD from this bounty. You have received 0.178 SBD from the creator of the bounty and 0.000 SBD from the community!

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I think the dip will be limited to the 7.5k - 8.0K area for now followed by a rise towards 12.40K ( early june) as the above charts..
Thanks for continued support..
By The way I started to feel more better this days regarding to my healthy..
Thanks for all

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Happy to hear you are improving.. i guess the stress has reduced now the bulls are back ;-) <3 Breatheeee!!

What are your comments to Bitcoin?
Is Bitcoin returning to the days when it cost $ 20,000?

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Yes , but I think will be on 2019

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Congratulations! Your submission earned you 0.089 SBD from this bounty. You have received 0.089 SBD from the creator of the bounty and 0.000 SBD from the community!

Happy to see Bitcoin bouncing back from previous lows. Difficult to predict short term movements, even though technicals point in a certain direction, even the smallest FUD or Pump could change the direction..I'm bullish long term, and I'm sure we haven't seen the highest prices yet👍

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Congratulations! Your submission earned you 0.089 SBD from this bounty. You have received 0.089 SBD from the creator of the bounty and 0.000 SBD from the community!

I think No one knows the future fo the Bitcoin

thank you for the daily update. It means a lot to newbies like me. Once again a smal request, can you put your charts directly from TV so we can open them in new tab and seen bigger ? it will also help me to see how u get this resistances . Thank you

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and above all happy to hear your feeling better

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Congratulations! Your submission earned you 0.044 SBD from this bounty. You have received 0.044 SBD from the creator of the bounty and 0.000 SBD from the community!

its looking like we are heading up from about 8600 or so. ill be patient for the next few days as trading seems a bit choppy right now I recently purchased profit trailer bot for Binance so I may be testing that out during this choppy session

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Congratulations! Your submission earned you 0.004 SBD from this bounty. You have received 0.000 SBD from the creator of the bounty and 0.004 SBD from the community!

Great progress by crypto 😍 keep up

This post has received a 4.48 % upvote from @booster thanks to: @lordoftruth.

A bounty of 0.500 SBD has been set on this post by @lordoftruth! You can read how they work here.

Thanks for sharing bitcoin update...Keep it up...

What are your opinions on Storj? I know that they are very different but which do you feel will have a higher yield in short term? The short term being 10 months. I'm thinking of converting. You seem to know your Cryptos please share some opinions on my post here: https://steemit.com/altcoin/@dylan607/how-to-find-a-good-and-profitable-ico

I think this bullish trend is temporary because bitcoin needs more recognition and improvement.

thank's for sharing the post

nice crease and awesome blog thank's for the share post

Steem is flying i am loving it :D

I have my low target in around 5000, however between 8-12k is just chop mode...nothing matters until one of them breaks

Todo un profecional amigo muy bueno saludos desde venezuela

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Congratulations! Your submission earned you 0.001 SBD from this bounty. You have received 0.000 SBD from the creator of the bounty and 0.001 SBD from the community!