Bitcoin Trend Series / EP. 629 / Sideways Track

Time: 8.17 A.M. / GM+2 / 20th June 2018 – Wed.

• In our previous post / 628 / we had forecast the trading range will be between 6.039K & 7.090K. The intraday low was 6.560K and the high was 6.848K.

• Bitcoin price formed a support at 6.107K and for now the price fluctuate within Sideways Track, keeping stability inside the bearish channel Borderd by 6.300K - 6.900K.

• Most important moment here is going again Below 6.519K lows in the next days to can move Below 5.878K as a lot of stops could be accumulated and once they will be triggered, the price will accelerate lower, right to our destination at 4.300K Area / Butterfly "Buy" within 2 weeks.

• Stochastic shows overbought signals, to support the chances of resuming the bear run.

• MACD back in the bearish zone and RSI is moving lower towards the 60 level.

• At press time, bitcoin price is around 6.600K and our Bearish Overview remain valid, conditioned by the price stability Below 7.090K.

Sentiment

Based on the above
We suggest / Bearish Trend / for today.

Support 1: 6039.000 level.
Resistance1 : 6800.00 level.

Support 2: 5878.000 level.
Resistance2 : 7090.000 level.

Expected trading for today:
is between 6039.00 and 7090.00.

Expected trend for today :
Bearish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5947.00 !!! / 4267.00 Expected.

The high of 2018 (BitcoinTrader's Year):
14469.00 / Expected.

The low of 2019: ???

The high of 2019 (Bitcoin Holder's Year):
36000.00 level / Expected.

YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.

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investing considerable time and effort up front in
hopes of considerable returns down the road.
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If You are New in Trading  --> Read Trading Education Center / Volume I.    

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

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