Time: 8.35 A.M. / GM+2 / 15th Oct. 2018 – Mon.
Recapitulation
- Bitcoin price keeps its stability below the resistance line shown on the below 4H Chart, supported by EMA50.
- Bitcoin Price conform the below Daily Chart will try to reach our daily target located at 5.880K - 5.911K Area.
Market Factors
Bulls have repeatedly defended this area as a number of investors are buying on dips. Some say, however, that only HODL-ers are in the game at this point, as the lower highs of bitcoin price also reflect increased selling pressure.
SEC has been busy cracking down on potentially fraudulent ICO cases, so traders are seeing slimmer chances of the bitcoin ETF applications being approved.
Technical
In our previous post / 724 / we had forecast the trading range will be between 6.040K & 6.497K. The intraday low was 6.294K and the high was 6.400K.
Bitcoin Price on its way gradually towards 6.040K, while breaking it will push the price towards 5.880K - 5.911K Area.
The Bearish Trend is suggested for today, unless breaching 6.497K
and holding above it.
Sentiment
The short term trend is Bearish
Support 1: 6290.000 level.
Resistance1 : 6497.00 level.
Support 2: 6040.000 level.
Resistance2 : 6879.000 level.
Expected trading for today:
is between 6040.00 and 6497.00.
Expected trend for today :
Bearish.
Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of considerable returns down the road.
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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.
