Bitcoin Trend Series / EP. 728 / Equilibrium

Recapitulation

• The moving averages remain flat, which shows Equilibrium between the bear and the bull and we still do not have yet thrilling patterns,
  but nuances point on downside continuation conform the below Daily Chart.

Market Factors

• The launch of Fidelity Digital Asset Services, by leading U.S. investment firm Fidelity, is a step in the right direction, providing institutional players a secure, compliant, and institutional-grade omnibus storage solution for Bitcoin, Ethereum and other
  digital assets.

• Tether Holders take five percent haircut as they exchange for Bitcoin!

Technical

• In our previous post / 724 / we had forecast the trading range will be between 6.290K & 6.879K. The intraday low was 6.674K and the high was 6.794K.

• A drop below 6.497K will retest the critical support zone of 6.040K - 5.911K.

• The next few days are critical and will provide an insight on the Next Direction of Bitcoin price.

Sentiment

The short term trend is Bearish

Support 1: 6497.000 level.
Resistance1 :6879.000 level.

Support 2: 6290.000 level.
Resistance2 : 7188.000 level.

Expected trading for today:
is between 6290.00 and 6879.00.

Expected trend for today :
Bearish.

YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.

Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of substantial returns down the road.

Thanks For Reading & Support