Time: 9.00 A.M. / GM+2 / 02 Sep 2018 – Sun.
Recapitulation
- Bitcoin price reached our first target at 7.188K and the market
continue its Consolidation Mode, supported by EMA50, the reason
why we believe that the price will move to the next station at 7.285K followed by 7.497K / 61.80% FIB, supported by Bullish Dynamic Pressure conditioned by the price stability above Key Support AT 6.880K.
Market Factors
Bitcoin market is Stable Due To Wall Street, while hodlers want to see BTC continue to shoot up in value, such lack of stability gives merchants cold feet.
While day traders could be responsible for the ranging market, bitcoin is stuck in. The coin may need Something Big to reactivate the long-term trend !
Traders still optimistic that the SEC could have a more positive decision in the pending bitcoin ETF applications.
Technical
In our previous post / 689 / we had forecast the trading range will be between 6.880K & 7.285K. The intraday low was 7.028K and the high was 7.269K.
Bitcoin price most likely, will try to visit 7.285K followed by 7.497K / 61.80% FIB.
Keep in mind, If the Bears Sink Prices Below 6.880K, our bullish view will be invalidated.
Sentiment
The trend is Bullish,
unless breaking 6.880K and hold below it !
Support 1: 6880.000 level.
Resistance1 : 7285.00 level.
Support 2: 6519.000 level.
Resistance2 : 7497.000 level.
Expected trading for today:
is between 6880.00 and 7497.00.
Expected trend for today :
Bullish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5782.00 / Fundamental Barrier / Done.
The high of 2018:
11700.00 / Expected!
The low of 2019:
6600.00 / Expected!
The high of 2019:
25000.00 / Expected!
Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of considerable returns down the road.
If you believe, that our little blog is useful for you,
consider purchasing us a box of beer to BTC Address:
3AmNtmR5F9RkACUyec9wTy2a1EP6B54t66
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
If You are New in Trading --> Read Trading Education Center / Volume I.
What You Know About --> Fibonacci Retracement in Trending Market.
