Bitcoin Price range for the Month of April 2018. [BTCUSD Technical update]
(Note: The below Analysis is my personal view with over 5 years of experience. It is being shared for information for risk management of Bitcoin holding and not an advice to buy or sell bitcoin in short term. The analysis is for informational purposes only and does not constitute advice, recommendation or offer to buy or sell Bitcoin, any other cryptocurrencies or financial instrument. SilkBitcoin is not responsible for any losses after the use of the current analysis. Invest wisely and only amounts that you can afford to lose.)
Earlier view: Dated 13th March 2018
Currently BTC/USD is in range between 8700-11500.
Latest Price: 9355. Mildly bullish above 10000 for a target of 11500.
Strongly Bullish on BTC/USD above 11500 for a target of 14500. Stop loss 10000.
Strongly Bearish on BTC/USD below 8400 for a target of 6800. Stop loss 10000.
Current view:
BTC/USD Value: 7855.
As we have said earlier on 13th March 2018 quoted above. BTC/USD turned strongly Bearish below 8400 on 14th March 2018 and we have seen a low of 7300 on 18th March 2018.
Now BTC/USD enters very narrow range 7300-9000. Minor jump towards 8600-8800 is more likely.
Bullish above 9200 for targets of 10,000. SL 8600.
Strongly Bullish above 10,000 for a Target of 11500. SL 9200.
On the downside,
Bearish below 7300. Target 6000. SL 8800.
Conclusion:
BTC/USD is trending down and enters a tight range where breakout on either side can give 30% upside or downside. Stay agile and enjoy fruitful returns. Any dip towards 5500-6000 will be considered as a good accumulation zone for long term investment. Partial profit booking on rally towards 11500 shall be considered as a wise move.
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