Time: 8.35 A.M. / GM+2 / 24th July 2018 – Tues.
In our previous post / 661 / we had forecast the trading range will be between 7.050K & 7.800K. The intraday low was 7.597K and the high was 7.950K.
Bitcoin price has climbed enough to reach the area of interest at 7.950K, supported by EMA50 and Stochastic.
RSI reflect a return in selling pressure, and Oscillator turns from the overbought area to reflect bullish exhaustion.
We do not expect extending the rally above 7.950K - 8.000K, and most likely this upmove will get end, as 4H Chart that show potential retracement by Butterfly "Sell" Pattern towards 7.050K - 7.100K area.
Sentiment
We expect a downside retracement from 7.950K- 8.000K area
at least towards 7.050-7.100K area.
Support 1: 7050.000 level.
Resistance1 : 7950.00 level.
Support 2: 6842.000 level.
Resistance2 : 8250.000 level.
Expected trading for today:
is between 7050.00 and 8000.00.
Expected trend for today :
Neutral.
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.
