Bitcoin Trend Series / EP. 640 / The Destiny of BTC.

Time: 12.28 A.M. / GM+2 / 1st July 2018 – Sun.

Recapitulation

• 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.

• The Last Week we had another important level of previous lows around 5.870K. Where bitcoin price is showing positive signs, the pump is most likely related to the CME future settlement date.

• Our Final Target around 4.300K has not been reached yet. Keep in mind 4.300K area is the point where bitcoin price should gravitate to, and the below Butterfly most likely will finalize this action.

Market Factors

• SALT Lending offers a peer-to-peer lending platform that allows cryptocurrency holders to use their Bitcoin and Ethereum as collateral for loans. Blockchain technology benefits both lenders and borrowers on the platform by eliminating many of the complexities and inconveniences of traditional lending. Further, lenders can earn high interest even when the market is down, and borrowers can leverage their assets without having to cash out. / Continue Reading /

• More than a thousand of crypto projects are “already dead” as of June 30, 2018, according to a recent TechCrunch Report. The news outlet has based its claim on data from two websites: Coinopsy and DeadCoins. Coinopsy provides daily reviews of various cryptocurrencies, including ones that are already “dead.” It defines a “dead” token as exhibiting at least one of the following: “abandoned, scammed, website dead, no nodes, wallet issues, no social updates, low volume or developers have walked away from the project.” / Continue Reading /

Technical

• In our previous post / 639 / we had forecast the trading range will be between 5.500K & 6.600K. The intraday low was 6.313K and the high was 6.449K.

• Our bearish scenario is valid as well. Most important moment here is standing Below 6.519K Lows.

• Bitcoin Market holds Harmonic Swings, as you can see on below chart. So we still watching for bearish continuation patterns / "222" Sell.

• No Change to our bearish scenario, conditioned by the price stability Below 6.519K. Another round of selling can be expected to move the price 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 6.400K and the bearish trend remain dominant unless breaching 6.519K and settling above it.

Sentiment

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

Support 1: 6039.000 level.
Resistance1 : 6600.00 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.

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

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