Time: 8.22 A.M. / GM+2 / 19th June 2018 – Tues.
Market Factors
Bitcoin price shows Some Bull Run to test EMA50. However yesterday's up move was certainly a cause for:
Crypto Celebration: As the reaction from the crypto market ( A Crypto U-turn ) yesterday was one of delayed gratification. In the United States, the authorities have been particularly ambiguous about the legal status of cryptocurrencies over the last few years.
Trade War: As USA and China added to market tensions with additional tit-for-tat trade tariffs. President Trump struck first by announcing $50 billion worth of new tariff's on imports from China. The response from China was swift, immediately matching the US measure-for-measure.
Technical
In our previous post / 627 / we had forecast the trading range will be between 6.039K & 6.800K. The intraday low was 6.382K and the high was 6.849K.
Bitcoin price still in the bearish channel and it is too early yet to buy bitcoin, as our bearish trend scenario still valid, supported by stochastic and another Leg To 4.300K Area / Butterfly "Buy" should happen within 2 weeks.
At press time, bitcoin price is around 6.700K and our Bearish Overview remain valid, conditioned by the price stability Below 7.090K.
Sentiment
Based on the above
We suggest / Bearish Trend / for today.
Support 1: 6039.000 level.
Resistance1 : 6800.00 level.
Support 2: 5878.000 level.
Resistance2 : 7090.000 level.
Expected trading for today:
is between 6039.00 and 7090.00.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5947.00 !!! / 4267.00 Expected.
The high of 2018 (BitcoinTrader's Year):
14469.00 / Expected.
The low of 2019: ???
The high of 2019 (Bitcoin Holder's Year):
36000.00 level / 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.
