Bitcoin Trend Series / EP. 708 / Tilray & Bitcoin

Time: 7.36 A.M. / GM+2 / 22 Sep 2018 – Sat.

Recapitulation

• Bitcoin price has broken the neckline of our Double Bottom target, to activate the positive effect of this pattern, paving the way to 6.880K and 7.050K, shown on the below 4H Chart.

Market Factors

• Wall Street seems to have got cannabis fever as the stock price of Tilray ($TLRY) shot to the moon. Since its public offering in June this year at a price of $17, it reached levels short of $300 this week, noting that Tilray & Bitcoin are waiting for the Fed !

• Bitcoin Market appears to be drawing support from the latest SEC order on gathering more input for the public as it prepares to make a ruling on the VanEck/SolidX bitcoin ETF Application.

Technical

• In our previous post / 707 / we had forecast the trading range will be between 6.260K & 6.880K. The intraday low was 6.530K and the high was 6.840K.

• We suggest the Bullish Bias for today towards 6.880K and 7.050K unless breaking 6.100K level and holding below it.

Sentiment

The short term trend is Bullish
unless breaking 6.100K level and holding below it

Support 1: 6601.000 level.
Resistance1 : 6880.00 level.

Support 2: 6100.000 level.
Resistance2 : 7050.000 level.

Expected trading for today:
is between 6.601.00 and 7050.00.

Expected trend for today :
Bullish.

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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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