Time: 8.47 A.M. / GM+2 / 9th May 2018 – Wed.
Bitcoin price fluctuate around 9K barrier now, after / Negative Trading / trying to break below 9K due to:
- The double top can be seen on its 4-hour chart.
- 4H Butterfly "Sell" and 1H 3-Drive "Sell".
- The negative remarks by Warren Buffet and Bill Gates who cast doubts on the cryptocurrency’s ability to retain its value.
The market is still trying to absorb the speech by the US President Donald Trump with regard to the pulling out of the Iran Nuclear Deal. The world is nervous as to what will happen next. What will Iran do? What are the sanctions the US will impose? What other countries, like the UK, France, Russia, China and Germany will do? / What is the impact on Bitcoin Market! / These are questions everyone is asking. As for the market, how will the US Dollar react. In the next few days, some of the questions will be answered. We have to wait and see!
Taking a closer look at this year to S&P 500 and Bitcoin, you will see they are virtually in lockstep. / The correlation seems so tight / ! Why is this? The public adulation for speculation running in parallel irrespective of asset class? It would seem so. And this another reason why we believe bitcoin price is not able for now to go above 10.158K.
- In our previous post / 586 / we had forecast the trading range will be between 9.038K and 10158.00. The intraday high was 9.421K and the low was 8.980K.
Stochastic is starting to move up from oversold area to suggests that sellers still have enough energy to push bitcoin price for more losses, and RSI support the bearish wave.
Clear break below 9.038K will move the price to the next station at 8.832K.
On 1D we have / Classical Triangle Pattern / with upper border between 10.10K -10.20K ( 10.158K ). So any move above 10K for moment will be limited to 10.158K and / Short Lived /.
On 4H / Deep Retracement Should Come / due appearing of upside reversal swing.
To conclude, A deep retracement, basd on 4H Butterfly "Sell" and 1H 3-Drive "Sell" is expected and most likely the / Retracement will be on Waves / towards: 8.832K / 8.573K / 8.367K / 7.770K.
Note; Holding above 9.038K will push the price up towards 10.158K before the fall and will not cancel the retracement.
We will suggest / The Bearish Trend / for today.
Support 1: 8573.000 level.
Resistance1 : 9421.00 level.
Support 2: 8367.000 level.
Resistance2 : 9767.000 level.
Expected trading for today:
is between 8573.00 and 9767.000.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5947.00.
The high of 2018 (BitcoinTrader's Year):
16046.00 / Expected.
The high of 2019 (Bitcoin Holder's Year):
25000.00 level / Expected.
/ Project by @knircky & @famunger /
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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.
Hope it comes out of bearish mood soon...
i hope it comes out of bearish trend soon.. trading of alts are very risky at the moment.
I have not made my profit yet
BTC should go up & up
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Keeping my eyes open this whole week 😎
thanks for the information
@steem-bounty is a loveable project. And your analysis work great always.
bitcoin stepping back to jump forward
Very positive project! That is what steemit should promote
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Awesome creativity❤ great work
Thank You sir for share your another amazing article for us........its awesome creativity i think.
@lordoftruth has set 0.237 SBD bounty on this post!
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Yeeees boyyyy
thanks for sharering dith vidio
may i ask again how you get this resistances? You changing them slight everyday
for example 9384 - 9450 - 9421
thank you
This post has received a 8.41 % upvote from @booster thanks to: @lordoftruth.
the pullback is happening can't wait to see what happen next
Brief informative post about Bitcoin price.
if it does not go down more than 8000 many of us will be satisfied, although I am sure that many still cry because they bought over 15 thousand in December