Bitcoin Trend Series / EP. 717 / Positive Remarks & Sideways Moving
Time: 8.25 A.M. / GM+2 / 4th Oct. 2018 – Thurs.
Recapitulation
- Bitcoin start today’s trading with clear bullish to breach 6.497K trying to hold above it, supported by stochastic positivity but we do not think this could be enough to signal further gains due to Minor Bearish Grabber ! So we still believe that the short-term bearish scenario will try to move the price lower towards 5.911K Within 1-2 Weeks.
Market Factors
There have been a Few Developments Positive for cryptocurrencies these days, including the reversal of Google’s ban on cryptocurrencies, the addition of more crypto options on Coinbase, and Bitmain’s IPO.
Reports that the only Bitcoin Investment Trust has been in the red likely led to weaker sentiment among investors. After all, Grayscale Bitcoin Investment Trust is at its lowest point since the digital asset hit record highs last year.
Positive Remarks from CFTC’s Giancarlo on how cryptocurrencies are here to stay also helped ease regulatory jitters.
Technical
In our previous post / 716 / we had forecast the trading range will be between 6.290K & 6.879K. The intraday low was 6.439K and the high was 6.648K.
The Bearish Trend is suggested for today. RSI, is moving sideways.
Sentiment
Support 1: 6290.000 level.
Resistance1 : 6879.00 level.
Support 2: 6040.000 level.
Resistance2 : 7188.000 level.
Expected trading for today:
is between 6290.00 and 6879.00.
Expected trend for today :
Bearish.
investing considerable time and effort up front in
hopes of considerable returns down the road.
consider purchasing us a box of beer to BTC Address:
3AmNtmR5F9RkACUyec9wTy2a1EP6B54t66
Bitcoins gone in to a deep deep slumber lol I have a feeling it might just flatten out for a long time now.