Expected trading for today is between 7600.00 support and 9300.00 resistance
Inverse head and shoulders on 5H frame, can we see 11500.00 level + ?!
There are big chances, if bitcoin price clear 9400.00 the critical resistance level.
What About Today !
I believe the major correction is over and the uptrend is set to resume, breaching 9400.00 level, will confirm the continuation of the bull run towards 10700.00 levels.
Bitcoin price now is around 8400.00 level. The trend for today is slighty bullish, supported by a H&S bottom at 6k / 76.40% Fib. But as the sellers still dominate the market since the first of Feb, we need to to breach 9400.00 level to continue the bull run.
Technical indicators give mix signals, and bitcoin market keep taking its cue from sentiment and equity markets as the correlation seems to be strengthening.
Breaching 9400.00 level and hold above it, will push the price towards 10700.00, followed by 11500.00 level.
Note; A continuation of the selloff could take it down to break 7600.00 level and this will push the price towards 6800.00 level, before any new attempt to raise.
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.
