Time: 8.29 A.M. / GM+2 / 14th May 2018 – Mon.
- The Prev. Daily Close was below 8.643K as expected, to put bitcoin price under the negative pressure again so bears still have the upper hand and bulls are likely being cautious, as we wrote in our last post / 591 /:
- If bitcoin price move below 8.367K ( Daily Close ) we could see 7.770K ( most likely ).
- If bitcoin price move above 8.643K ( Daily Close ) we could see 9.460K at 0.382 fib.
No change in our short term forecast as we still expect some losses eventually towards 7.770K before any new attempt to rise.
In our previous post / 587 / we wrote: Retracement will be on Waves towards / 8.832K / 8.573K / 8.367K / 7.770K. The first 3 targets 8.832K / 8.573K / 8.367K was met and we believe further losses are expected eventually towards 7.770K as our forecast in our previous post / 576 /
to build our inverted head and shoulders pattern.
Bitcoin updates last week have been mixed, with a rough start on Buffet’s remarks and a bit of a pickup on news that ICE is getting ready to launch a bitcoin trading platform.
Bitcoin futures led to the last slump, which kept investors on edge that further bitcoin products could draw more selling action.
Bitcoin tested the 8.643K, gained roughly around $400 , so it’s hard to say, this was a truly recovering, the reason why we believe that bears are eager to extend the correction.
In our previous post / 591 / we had forecast the trading range will be between 7.770K and 9.050K. The intraday high was 8.760K and the low was 8.318K.
Bearish wave for today is expected especially that stochastic shows clear overbought signals now, besides the price move below the EMA50.
No change in our short term forecast as we still expect some losses eventually towards 7.770K / Buying Opportunity.
Support 1: 8367.000 level.
Resistance1 : 8643.00 level.
Support 2: 7770.000 level.
Resistance2 : 9050.000 level.
Expected trading for today:
is between 7770.00 and 9050.00.
Expected trend for today :
Neutral.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5947.00.
The high of 2018 (BitcoinTrader's Year):
16046.00 / Expected.
The low of 2019: ???
The high of 2019 (Bitcoin Holder's Year):
36000.00 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.
There is definately a whale that keeps dumping trying to sabotage the general atmosphere before consensus. Prob buffet or gates or something lol
That looks pretty nice. :) Seems like cryptos will go up with the summit.
it is a bit dangerous to trade alts given the manipulations being done with bitcoin.. i have been burned several times, ouch!
With the upcoming consensus blockchain technology summit from today- till 16th may 2018, this event may trigger the much needed bullish sentiment in the coming days.
The low of 2019 will be $7213
this dump is a healthy technical indicator coupled with the institutional interest we can expect to see a bullish trend before Autumn hopefully
Very good informative post about cryptocurrency. Thanks to you for share with us.
thank you. Look forward to going long around 7.7 or 8 ish
Be will there floor of Bitcoin in 6000$? Will come Bitcoin to that price?
I think yes 😢
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I'm admitting the bears having their party for now. Almost every party ends with a heavy hangover.
I wish Steem price wasn't tied to bitcoin you know?
it seems that BTC is reading you and respect your supports and resistances :) If anyone knows how you get those (horizondal lines? EMA?) i will llike to know. thx again for the info
EMA=exponential moving average. This draws a line based on the average price for X number of days. Ex. EMA55 is the average price over 55 days. In most exchanges and analysis sites like tradingview.com you can pick EMA and whatever day interval you choose examples are 8,13,24,55, and 200 day averages. Hope that helps!
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It seems like bulls are staying away at the moment.
I will try out this technique
Still waiting that BTC is going over $10K
We can hope... bring on 2019!!