Bitcoin Trend 528 / Market Brief 285 / Sanador Hospital ( 2nd day )

Time: 8.24 A.M. / GM+2 / 15th Mar, 2018 – Thurs.

Due to my healthy problem, I will not able to add any chart as I post from Sanador Hospital, but in the same time I wil try to keep you updated, when is needed and when I can!

Bitcoin Trend Series / EP. 528 /:

• In our previous post / 527 / we wrote about "The height of this triangle is 1.6K ( spans between 8.4K and 10K ) so 1.6K move is expected in either direction." and we had forecast un upside break might be more likely to happen. But bitcoin price broke 8.4K ! The catalyst for this leg down? Sell of, Regulations, GOOG decision to cease crypto ads, etc..

• There are two schools of thought ( School 2 will be the most likely scenario):
  (1) Falling wedge since Dec 17, 2017, is continuing as maximum retracement hasn’t been achieved.
  (2) The bull-bear cycle has been completed & market is in consolidation, if so the price must hold above 7.362K.

• Moving Averages – Bearish: Both the 50 dma and 100 dma are pointing out that their averages are falling, and the current price fell below the 200 dma. A close would reinforce the fact that prices are falling lower than the multiple gauges reflected by the major MA's and signal that a downward momentum may be gearing.

Market Brief Series / EP. 285 /:

• US dollar managed to hold steady amid signs of political uncertainty cast by the departure of Secretary of State Rex Tillerson and economic adviser Gary Cohn from the Trump Administration. Meanwhile, pressure on the currency came from an unexpected print of declining February US retail sales.

• EUR/USD softened after two-day rally dropping 0.2% to 1.2365. Investors became cautious on the single currency following rather dovish comments by ECB President Mario Draghi, who pointed out that the central bank needs further evidence that inflation is rising.

• The pair posted a rebound and broke above the 20-period moving average, it is still capped by a declining 50-period moving average. Below 1.2390, look for a return with target at 1.2315. Alternatively, above 1.2390, expect another upside with 1.2450 as target.

Thanks For Reading..

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What You Know About --> Fibonacci Retracement in Trending Market.