Bitcoin Trend Series / EP. 752 / 12th Dec. 2018

Recapitulation

• Bitcoin price is under pressure below the 3.600K resistance levels. Bitcoin Bear market is still far from over, so overall our bearish setup stands intact, conditioned by the price stability below 3.600K.

• The bearish trend supported by EMA50, will try to move the price to our next main target located between 3.000K- 3.100K.

Market Factors

• Bitcoin’s poor performance has led to turbulence in the markets, the entrance of institutional investors throughout 2019 may help to lift the markets back towards their all-time-high prices.

• BTC still looks heavy and we gravitate to idea that it is better to search chances to sell.

Technical

• The bearish trend is still suggested unless breaching 3.600K and holding above it.
• We believe that the Bitcoin will witness strong buying in the 3.000K – 3.100K zone.
• The bearish trend is supported by the negative pressure provided by EMA50.

Sentiment

The short term trend is Bearish

Support 1: 3260.000 level.
Resistance1 :3600.000 level.

Support 2: 3000.000 level.
Resistance2 :3860.000 level.

Expected trading for today:
is between 3000.00 and 3600.00.

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.