The thing that I do not understand, why most of bitcoin players gets in at the top and gets out at the bottom. Everyone of us must understand that the market is lead by cycles, and the market cycles occur due to main emotions:
- The greed for profits.
- The fear of losses.
When we will understand this, we will get out at the top and will get in at the bottom. As you see the reversal was occurred and the low was created at 6k, where I make my buy call, and as long as the 2 daily support trendlines
( check the below chart ) hold, the price of bitcoin will pick up toward 12600.00 level. But to can see this level, the price must breach the 10700.00 level.
Expected trading for today is between 8600.00 support and 11500.00 resistance
What About Today !
< The next target is 12600.00 level >
Feel free to check my bitcoin trend posts since the first of Feb 2018
Bitcoin price now is around 9900.00. The trend for today is bullish, conditioned by stability above 8600.00, affected by a H&S bottom at 6k / 76.40% Fib, technical indicators and inverse head & shoulders on 5H.
Breaching 10700.00 level and hold above it, will push the price toward to 11500.00 level, and might take to the price to 12600.00 level.
The short-term technical outlook will improve further, should bitcoin overcome the 10700.00 level with the next targets at 11500.00 and 12600.00 !! My answer is yes, as the volatility has significantly decreased in the last week and the stabilization started to attract new buyers to send bitcoin price higher.
Let us watch carefully what will happen around the 10700.00 resistance!
Expected trading for today:
is between 8600.00 support and 11500.00 resistance.
Expected trend for today :
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.
