Bitcoin Trend Series / EP. 711 / Markets Are Bleeding
Time: 8.05 A.M. / GM+2 / 25 Sep 2018 – Tues.
Recapitulation
- Bitcoin Market Are Bleeding once again and begins today’s trading with clear bearish bias to break 6.497K and settles below it, the reason why we believe, Bitcoin price on its way to resume the main bearish trend after the bullish correction, paving the way to 6.290K and 6.040K, shown on the below 4H Chart.
Market Factors
North Korea is reportedly ramping up the use of cryptocurrencies to evade US economic sanctions. It’s also alleged that the country is developing its own native crypto asset to further assist moving money across borders, according to a duo of financial intelligence analysts from Washington D.C.
All eyes are now set on Intercontinental Exchange, as ICE plans on launching a new regulated "on-ramp" platform for institutional investors, merchants and retail investors to trade, store and spend various digital assets through Bakkt.
Technical
In our previous post / 710 / we had forecast the trading range will be between 6.479K & 7.188K. The intraday low was 6.403K and the high was 6.709K.
We suggest the Bearish Bias for today towards 6.290K and 6.040K unless breaching 6.497K and holding above it.
Sentiment
unless breaching 6.497K and holding above it.
Support 1: 6290.000 level.
Resistance1 : 6497.00 level.
Support 2: 6040.000 level.
Resistance2 : 6879.000 level.
Expected trading for today:
is between 6040.00 and 6497.00.
Expected trend for today :
Bearish.
investing considerable time and effort up front in
hopes of considerable returns down the road.
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I would buy some NK crypto, KimCoins
bearish trend continues that was expected somewhere