Time: 8.22 A.M. / GM+2 / 05 Sep 2018 – Wed.
Bitcoin price stands in rather Tight Range and keep its steady climb recently inside the Bullish Channel shown on below 4H Chart supported by EMA50.
Divergence With MACD looks like bullish dynamic pressure, but most likely once 7.497K will be hit, a Retracement should start towards 6.880K !
SEC denies bitcoin ETFs because applicants do not fit Industry Archetype.
Traders are still on edge when it comes to the bitcoin ETF ruling from the SEC due later this month. Keep in mind, Approval could lead to another leg higher for Bitcoin while Rejection might lead to dips.
Line, Japan’s largest messaging app, has launched its own cryptocurrency.
In our previous post / 692 / we had forecast the trading range will be between 6.880K & 7.497K. The intraday low was 7.270K and the high was 7.415K.
The short term trend still Bullish but conform 4H Chart, the last upside leg takes the shape of Butterfly, this butterfly accompanied by MACD Divergence suggests that once 7.497K will be hit, a retracement should start towards 6.880K !
RSI signals bullish exhaustion, and Stochastic indicates that the buyers might take a break.
unless breaking 6.880K and hold below it !
Support 1: 7188.000 level.
Resistance1 : 7497.00 level.
Support 2: 6880.000 level.
Resistance2 : 7635.000 level.
Expected trading for today:
is between 6880.00 and 7497.00.
Expected trend for today :
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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hopes of considerable returns down the road.
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