Bitcoin Trend Series / EP. 663 / ETF Approval

in #bitcoin3 years ago (edited)

Time: 8.45 A.M. / GM+2 / 25th July 2018 – Wed.

  • In our previous post / 662 / we had forecast the trading range will be between 7.050K & 8.000K. The intraday low was 7.921K and the high was 8.506K.

  • Bitcoin price keeps achieving strong gains supported by EMA50 to suggest that, the bullish trend will continue towards 8.642K and this rising above 8.000K was due to prospects of the first cryptocurrency exchange-traded fund (ETF) Approval.

  • We can clearly see the Low at 5.782K, has provided slowly, fresh buying pressure for Bitcoin price, which the weakness of the bears try to push the price toward the major resistance level at 8.642K.

  • RSI reflect a return in selling pressure, similarly Stochastic signal a return in bearish pressure. The reason why we believe the sellers might try to take control of Bitcoin price around 8.642K.

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Sentiment

The trend is Slighty Bullish for today.

Support 1: 8280.000 level.
Resistance1 : 8.642.00 level.

Support 2: 7650.000 level.
Resistance2 : 9000.000 level.

Expected trading for today:
is between 8.000.00 and 8642.00.

Expected trend for today :
Slighty Bullish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5782.000

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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Good to see you gave up your expected low around 4,7k$ and you are now confident in BTC rise. What a week we are having! really hard to predict where BTC will stop. Bulls are hungry! Thanks for your analysis.

Does this mean your Butterfly pattern and associated low is off the table? You have been very consistent about this for a long time

Yes, your right.
Butterfly pattern is not valid anymore.
Thanks for conutinued support to my blog.

This post has received a 12.20 % upvote from @booster thanks to: @lordoftruth.

This post has received a 7.05 % upvote from @boomerang.

Supercomplete info. Essential visit your blog every day

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well a sudden dip might come in for sure but the level looks strong for support