Time: 8.43 A.M. / GM+2 / 06 Sep 2018 – Thurs.
- As we expected the Retracement got start below 7.497K ( Shown on below yesterday 4H chart ) due the Butterfly, and Bitcoin price dropped sharply to break the key supports at 7.188K & 6.880K outside the Bullish Channel to push the price in Bearish Zone.
Bitcoin price dropped amid a report that Goldman Sachs is pulling back on plans to set up a crypto trading desk, as it still sees the regulatory environment as ambiguous.
Traders looking to make Quick Profits off the market, as some start to worry due to the doubts on SEC ruling for bitcoin ETF applications awaiting a decision by the end of the month !
The upside appears to be Short-Lived as the market cap dropped from $239B to $200B in less than 24 hours !
In our previous post / 693 / we had forecast the trading range will be between 6.880K & 7.497K. The intraday low was 6.302K and the high was 7.404K.
Most likely the price is on its way to Suffer More Losses to set its sights on the long-term support around 5.782K from here !
Technical indicators reflect mixed signals, RSI signals the selling pressure is in play, and Stochastic indicates that the sellers might take
unless breaching 6.880K and hold above it !
Support 1: 6040.000 level.
Resistance1 : 6880.00 level.
Support 2: 5782.000 level.
Resistance2 : 7188.000 level.
Expected trading for today:
is between 6040.00 and 6880.00.
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!
investing considerable time and effort up front in
hopes of considerable returns down the road.
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