Time: 8.00 A.M. / GM+2 / 2nd Apr, 2018 – Mon.
- In our previous post / 549 / we had forecast the trading range will be between 6.50K and 7.49K. The intraday high was 7.06K, and the low was 6.43K.
Bitcoin price jumps a bit, then falls a bit. This has become something of a routine over the last days, while nothing huge appears to be happening as the bitcoin resistances seem so strong and the supports are holding. The reason why the price saw a complete reversal after the 12 hours bleed yesterday, regaining much of the day’s losses in a half hour.
We still suggest the bearish trend domination, unless the price managed to breach 8.18K and hold above it. But I believe that bitcoin's price nearing bottom and the low of 2018 at 5.947K will hold.
The next 48 hours, the price may correct higher towards 7.49K - 8.18K, but will face sellers on the upside to move again lower towards 6.60K, as with this volume and indicators most likely will see sideways action.
4 Hours MACD is slowly moving back in the bullish zone and 4-hours RSI is currently moving higher.
Support 1: 6600.00 level.
Resistance1 : 7490.00 level.
Support 2: 5947.00 level.
Resistance2 : 8180.00 level.
Expected trading for today:
is between 6600.00 and 8180.00.
Expected trend for today :
Slighty Bearish.
Medium Term:
Slighty Bearish.
Long Term:
Bullish.
The low of 2018:
5947.00 / IHS Bottom.
The high of 2018 (BitcoinTrader's Year):
14000.00 level / Expected.
The high of 2019 (Bitcoin Holder's Year):
??? The new all time high is expected.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of considerable returns down the road.
I'm so proud of my little blog, and so grateful to all of you
for support to keep it going.
If You are New in Trading --> Read Trading Education Center / Volume I.
What You Know About --> Fibonacci Retracement in Trending Market.
