Bitcoin Trend Series / EP. 691 / The Optimism & Ethereum Futures

Time: 8.50 A.M. / GM+2 / 03 Sep 2018 – Mon.

Recapitulation

• Bitcoin price is trending higher inside the Bullish Channel shown on below 4H Chart and reached our second target at 7.285K, where we believe a pullback might due from here to test the support at 7.188K before the climb to our third target at 7.497K / 61.80% FIB, supported by EMA50, conditioned by the price stability above Key Support AT 6.880K.

Market Factors

• The Optimism for approval by the SEC in bitcoin ETF applications appears to be keeping bulls present for fear of missing out on a big rally.

• The launch of Ethereum Futures might wind up positive for Bitcoin Market !

Technical

• In our previous post / 690 / we had forecast the trading range will be between 6.880K & 7.497K. The intraday low was 7.185K and the high was 7.429K.

• RSI signals that sellers are trying to regain the control, and Stochastic indicates a return in selling pressure.

• Pullback might due from here to test the support at 7.188K before the climb to our third target at 7.497K / 61.80% FIB.

• Keep in mind, If the Pullback Sink Prices Below 7.188K, bitcoin price might test 6.880K, before any new attempt to rise.

Sentiment

The trend is Bullish,
unless breaking 6.880K and hold below it !

Support 1: 7188.000 level.
Resistance1 : 7285.00 level.

Support 2: 6880.000 level.
Resistance2 : 7497.000 level.

Expected trading for today:
is between 6880.00 and 7497.00.

Expected trend for today :
Bullish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5782.00 / Fundamental Barrier / Done.

The high of 2018:
11700.00 / Expected!

The low of 2019:
6600.00 / Expected!

The high of 2019:
25000.00 / Expected!

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investing considerable time and effort up front in
hopes of considerable returns down the road.

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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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