Bitcoin Trend Series / EP. 725 / Investors Buy On Dips

Time: 8.35 A.M. / GM+2 / 15th Oct. 2018 – Mon.

Recapitulation

• Bitcoin price keeps its stability below the resistance line shown on the below 4H Chart, supported by EMA50.

• Bitcoin Price conform the below Daily Chart will try to reach our daily target located at 5.880K - 5.911K Area.

Market Factors

• Bulls have repeatedly defended this area as a number of investors are buying on dips. Some say, however, that only HODL-ers are in the game at this point, as the lower highs of bitcoin price also reflect increased selling pressure.

• SEC has been busy cracking down on potentially fraudulent ICO cases, so traders are seeing slimmer chances of the bitcoin ETF applications being approved.

Technical

• In our previous post / 724 / we had forecast the trading range will be between 6.040K & 6.497K. The intraday low was 6.294K and the high was 6.400K.

• Bitcoin Price on its way gradually towards 6.040K, while breaking it will push the price towards 5.880K - 5.911K Area.

• The Bearish Trend is suggested for today, unless breaching 6.497K
  and holding above it.

Sentiment

The short term trend is Bearish

Support 1: 6290.000 level.
Resistance1 : 6497.00 level.

Support 2: 6040.000 level.
Resistance2 : 6879.000 level.

Expected trading for today:
is between 6040.00 and 6497.00.

Expected trend for today :
Bearish.

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investing considerable time and effort up front in
hopes of considerable returns down the road.

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

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

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