Ask me how I feel!
I say: "I feel alright".
Most of analysts, are bearish and wait the wave 5 to lead the price to 4.5k !!! The problem is, if the support 6K will be broken, the price will not stop at 4.5k, the price will move more lower to test the next major support level at 3.01k, and this is unlikely.
Btc is the Grandfather, and most of coins will crash if bitcoin price break the low of 2018 at 6k.
The severe drop of bitcoin price towards 6k / 64% / is exactly the average decline over the last seven bear-market cycles, and is is totally normal, if we use history as an indicator. It seems like is about the right correction, everything will be kind and bitcoin market will start to climb in the next couple of days.
To can climb, the price must manage to clear the critical resistance level at 9.4k, because unless the bulls manage to break this level followed by 10.7k, the sellers will dominate the market.
Expected trading for today is between 7600.00 support and 9300.00 resistance
What About Today !
Bitcoin price now is around 7900.00 level. The trend for today is slighty bullish, supported by a H&S bottom at 6k / 76.40% Fib, which already have held as a floor.
Another Swingy Day, swing range is between 7900.00 and 9200.00 levels. Yesterday, the swing direction was to the downside towards 7900.00 level. Today, the swing direction will be to the upside towards 9200.00 level.
Breaching 9300.00 level and hold above it, will push the price towards 10700.00 level.
Breaking 7600.00 level and hold below it, will push the price towards 6800.00 level.
Expected trading for today:
is between 7600.00 support and 9300.00 resistance.
Expected trend for today :
Slighty bullish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00 / H&S bottom.
The high of 2018:
25000.00 level.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
What You Know About --> Fibonacci Retracement in Trending Market.
