Time: 8.15 A.M. / GM+2 / 25th June 2018 – Mon.
- In our post / 607 / dated on 29th May, we wrote;
We doubt the crucial support 7.100K - 7.210K area will hold as the 2 weekly bearish stop grabbers after breaking 7.614K, suggest drop below 6.519K, to test 5.878K reaching 4.300 area, where a Potential Bullish Reversal can take place.
- In our post / 631 / we wrote;
The Accumulated Stops below 5.878K will be triggered, and the price will accelerate lower, right to our destination at 4.300K Area / Butterfly "Buy" that appears on the below chart, within less than 2 weeks.
In our previous post / 633 / we had forecast the trading range will be between 5.500K & 6.600K. The intraday low was 5.755K and the high was 6.249K.
Elliott Wave & Fibonacci suggest that more weakness should be expected, as long as 6.842K is intact.
Our 4th Target 5.878K had been met yesterday and still No Change to our bearish scenario, conditioned by the price stability Below 6.842K. So we still wait for more losses towards 5.500K followed by 4.300K Area / Butterfly "Buy" the final destination and the potential bullish reversal location.
Many old school financial institutions predict the death of bitcoin!
Keep in mind:
This is Not The Funeral For Bitcoin
&
The Bullish Reversal Will Coming Soon.
- At press time, bitcoin price is around 6.150K and our Bearish Overview remain valid. Most likely the up move will be limited to 6.250K zone for today.
Sentiment
Based on the above
We suggest / Bearish Trend / for today.
Support 1: 5878.000 level.
Resistance1 : 6250.00 level.
Support 2: 5500.000 level.
Resistance2 : 6842.000 level.
Expected trading for today:
is between 5500.00 and 6600.00.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
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.
