Bitcoin Trend Series / EP. 651 / Keep An Watching Eye On 6.210K

Time: 8.30 A.M. / GM+2 / 12th July 2018 – Thurs.

• In our previous post / 650 / we had forecast the trading range will be between 6.039K & 6.705K. The intraday low was 6.286K and the high was 6.407K.

• Bitcoin price turned down from 6.842K on July 9 and Slipped Below 20-day EMA. The current fall moved the price to 6.300K where Bitcoin price continues fluctuating now. So no change to our bearish overview that target 6.210K.

• In Short Term:

1. If Bitcoin price is stopped around 6.210K, an inverse head and shoulders pattern ( 4H ) will form to show upside bounce within 1-2 weeks towards 7.500K before any new attempt to decline again.

2. If the bulls fail to hold 6.210K, Bitcoin price will drop below 6.039K.

To conclude, we have to keep an watching eye on 6.210K.

• On Daily Chart:

We're still watching for AB=CD target also. As a lot of stops could be accumulated below 5.870K lows and once they will be triggered, the price could accelerate lower towards 5.500K followed by 4.300K.

• Weekly Setups:

Stands the same and our major target of AB-CD Pattern around 4.300K still valid as long as the price below 6.842K.

Sentiment

Based on the above
The trend is Slighty bearish for today.

Support 1: 6039.000 level.
Resistance1 : 6705.00 level.

Support 2: 5780.000 level.
Resistance2 : 6842.000 level.

Expected trading for today:
is between 6039.00 and 6705.00.

Expected trend for today :
Slighty Bearish.

Medium Term:
Bearish.

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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investing considerable time and effort up front in
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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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