Bitcoin Trend Series / EP. 662 / The Next Move

Time: 8.35 A.M. / GM+2 / 24th July 2018 – Tues.

• In our previous post / 661 / we had forecast the trading range will be between 7.050K & 7.800K. The intraday low was 7.597K and the high was 7.950K.

• Bitcoin price has climbed enough to reach the area of interest at 7.950K, supported by EMA50 and Stochastic.

• RSI reflect a return in selling pressure, and Oscillator turns from the overbought area to reflect bullish exhaustion.

• We do not expect extending the rally above 7.950K - 8.000K, and most likely this upmove will get end, as 4H Chart that show potential retracement by Butterfly "Sell" Pattern towards 7.050K - 7.100K area.

Sentiment

We expect a downside retracement from 7.950K- 8.000K area
at least towards 7.050-7.100K area.
The trend is Neutral for today.

Support 1: 7050.000 level.
Resistance1 : 7950.00 level.

Support 2: 6842.000 level.
Resistance2 : 8250.000 level.

Expected trading for today:
is between 7050.00 and 8000.00.

Expected trend for today :
Neutral.

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.

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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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