Bitcoin Trend Series / EP. 635 / Bearish Journey & Harmonic Swings
Time: 7.52 A.M. / GM+2 / 26th June 2018 – Tues.
- In our post / 607 / dated on 29th May, we wrote;
We doubt the crucial support 7.100K - 7.210K area will hold as the 2 weekly bearish stop grabbers after breaking 7.614K, suggest drop below 6.519K, to test 5.878K reaching 4.300 area, where a Potential Bullish Reversal can take place.
- In our post / 631 / we wrote;
The Accumulated Stops below 5.878K will be triggered, and the price will accelerate lower, right to our destination at 4.300K Area / Butterfly "Buy" that appears on the below chart, within less than 2 weeks.
In our previous post / 634 / we had forecast the trading range will be between 5.500K & 6.600K. The intraday low was 6.068K and the high was 6.341K.
Bitcoin Market holds Harmonic Swings pretty nice, as we can see from the below chart. So the only strategy that could be applied is watching for bearish continuation patterns, such as "222" Sell.
Bitcoin price returns to fluctuate around EMA50, RSI appears to be turning lower before hitting overbought levels and Stochastic on the move down to form negative factor and indicate selling pressure.
No Change to our bearish scenario, conditioned by the price stability Below 6.842K. So we still wait for more losses towards 5.500K followed by 4.300K Area / Butterfly "Buy" the final destination and the potential bullish reversal location.
At press time, bitcoin price is around 6.250K and our Bearish Journey continue.
We suggest / Bearish Trend / for today.
Support 1: 5878.000 level.
Resistance1 : 6250.00 level.
Support 2: 5500.000 level.
Resistance2 : 6842.000 level.
Expected trading for today:
is between 5500.00 and 6600.00.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
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.
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.
Be safe out there everyone the market always has the potential to move against the general consensus
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hello @lordoftruth good post.. i am very interesting in trading but i don't know any thing about trading .what i do ?
What do think about the market it is positive or still going to dump more?
Trade going as expected hopefully we will be remaining in that area for long
thanks for the update. may i ask if you post anywhere else, or have a channel for discussion or twwitter?