Bitcoin Trend Series / EP. 557 / Neutral Trend Domination & Swing Move / Steem Bounty Reward

Time: 8.16 A.M. / GM+2 / 9th Apr, 2018 – Mon.

Market Factors

Although Bitcoin have lost a lot of value, we still interested in cryptocurrencies as investing comes with its own set of risks and rewards.

We might be more reluctant to invest in crypto because of the newness of the technology but the rewards also seem to be promising.

With increased support from traditional platforms and participation of well-recognized institutions, the world is set to be revolutionized by the crypto activity.

The reason, why we believe that there are three main reasons to invest in them:

• One would definitely want a strong net-worth against the fall of the dollar imperium as people believe that it is going to happen sooner or later.

• People want to support the vision behind the cryptocurrencies – free and hard money for everyone.

• The inclination of people towards technology and their love for it. The Blockchain Potential.

Technical

• In our previous post / 556 / we had forecast the trading range will be between 6.49K and 7.33K. The intraday high was 7.17K, and the low was 6.89K.

And as our prediction in last post:

"Sideways movement between 6.49K and 7.12K is expected."

Bitcoin price tested the 7.17K and might keep the swing move after testing 7.34K.

• Bitcoin price is slowly recovering but there is a major bearish trend line forming with resistance at 7.5K on the 4H.

• Move above the 7.5K resistance is needed to gain bullish momentum, most likely will happen around the middle of April supported by MACD.

• Bitcoin price may start an upside move towards 7.33K and 7.50K levels, but for today a break above 7.5K level would be difficult, so another move towards 6.49K support might happen, but in the same time the swing move will take end soon as the limit for any major swing is Apr 12, which is now supported by the squeezed 1D band that we have been seeing for the past few days.

Sentiment

• We suggest for today neutral trend domination, with sideways movement between 7.34K and 6.49K.

• As we said in our last post, bitcoin price can recover as April is historically considered as one of the best months for the digital currency. The reason why I believe the swing between 6.49K and 7.34K will take end and the trend will become bullish around 12-15 April as we still expecting a pretty upside move.

Support 1: 6490.00 level.
Resistance1 : 7500.00 level.

Support 2: 6240.00 level.
Resistance2 : 7880.00 level.

Expected trading for today:
is between 6490.00 and 7340.00.

Expected trend for today :
Neutral.

Medium Term:
Slighty Bearish.

Long Term:
Bullish.

The low of 2018:
5947.00.

The high of 2018 (BitcoinTrader's Year):
14000.00 level / Expected.

The high of 2019 (Bitcoin Holder's Year):
??? The new all time high is expected.

Remember in order to qualify for a @steem-bounty reward
/ Project by @knircky & @famunger /
You must write a comment to the this post.

Let the Crypto Easter Eggs..
Serve as your reminder that nothing can hinder you..
In fulfilling your dreams..
Happy Easter!

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 considerable returns down the road.
I'm so proud of my little blog, and so grateful to all of you
for support to keep it going.

If You are New in Trading  --> Read Trading Education Center / Volume I.    

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