Bitcoin Trend Series / EP. 655 / Keep An Eye On IH&S
Time: 12.05 A.M. / GM+2 / 16th July 2018 – Mon.
In our previous post / 654 / we had forecast the trading range will be between 6.039K & 6.420K. The intraday low was 6.292K and the high was 6.389K.
Conform 4H, there are some background for Short Term upside retracement, and Bitcoin price could support this action.
For Our Long Entry, we placed our SL at 6.039K as most likely the
price will breach 6.420K to start recovery attempts the target of 6.842K followed by 7.150K, supported by IH&S pattern shown on the below chart.
Note; If Bitcoin price will not be able to hold around 6.039K, the chances of drop below 5.780K will increase.
Weekly Setups stands the same and our major target of AB-CD Pattern is around 4.300K.
Sentiment
The trend is Bullish for today.
Support 1: 6039.000 level.
Resistance1 : 6420.00 level.
Support 2: 5780.000 level.
Resistance2 : 6842.000 level.
Expected trading for today:
is between 6039.00 and 6842.00.
Expected trend for today :
Bullish.
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.
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.
Happy to know that the trend is Bullish for today, hope it continues!
I am still waiting to re-enter but i start to doubt that this 5.8K resistance will ever be broken, difficult decision...
Thanks for your daily update, a bit boring times but much appreciated.
You are right, it is difficult decision as 4H show bullish action ( recovery ), weekly stand the same to show the new potential low around 4.3K!
So most likely the price will go up towards 7.150K before any new attempt to decline, the reason why I placed SL at 6.039K as breaking this level will move the price below 5.780K conform the weekly chart that might lead to the new low on Oct 2018..
Let us wait and see..
The above trade is risky..
Thanks for continued support..
its true..we doubt it until it happens! ha ha lool..
who knows but the resistance is equal in both ways,. and right now its hard to see anything except a nice dip push it back up..
What about testing 7.150 K followed by a decline !!
the second wedge appears to be a downward Elliot wave.. i wish i could predict it right.
Todos estamos esperando que empiece a subir
This post has received a 5.68 % upvote from @boomerang.
Everyone is monitoring the resistance at $6800. It makes me believe in a strong breakout with Bitcoin towards $8000 before the end of July!
The report you are doing is a bit encouraging, as the trend continues today. regards
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wow amigo, en serio es probable que el bitcoin baje su valor en mayores proporciones?
The crypto market is so unpredictable..