Hey friends welcome back ,
I'm very sorry for I couldn't update you all with latest news & updates because I had fallen sick
Now back to the topic,here i have covered Bitcoin's major support & resistance ,it's predictions as per TA , &Cryptocurrency market updates.
As per many technical analyzers, Btc was about to form an inverse head & shoulders pattern & recently it failed to complete it's right shoulder pattern and got pull backed .Still there are few hopes left to confirm that Btc will complete that pattern & according to my Technical analysis , I've mentioned Bitcoin's major Support & resistance level.
Watch the chart below for your information about Inverse Head & shoulders pattern.
Btc was forming a same pattern like above but it failed to complete it's right shoulder which is important for pattern formation and uptrend.If it rises & the pattern is confirmed then we may see Btc soon crossing it's resistance and will move towards $6800 level.
The major Support level of Bitcoin presently is around $6100 .
It's major Resistance Level is around $6300-$6400 .
WHAT WILL HAPPEN NOW ,WILL BTC RISE OR FALL ?
In June 2018, Bitcoin went down to $5,880 before a bounce , Seems that the Same thing's gonna repeat.The Bulls may take BTC slightly up to around $6400 . There are few indications that if Btc fails to break it's resistance then the downward trend will take it down to $6100. Although,it has a strong support at $6,100 level but if it fails then we may see next level of $5900 .
There's nothing much to worry about if however Btc breaks it's $6100 support, we still have many strong supports at $6000 & $5800 .
As per my opinion, Btc seems bearish apart if it Stabilizes from here & cross it's Resistance otherwise it will likely to fall.
5 ALTCOINS GAINS SEEN AFTER COINBASE ANNOUNCEMENT WHICH INCLUDES Cardano, Stellar, Zcash, 0x and BAT.
This Week wasn't that good and favorable for all the Altcoins except Cardano, Stellar, Zcash, 0x and BAT. These coins are added to Coinbase as per it's official tweet.
ADA is up by 5.7%
XLM is up by 7%
Zcash is up by 10.4%
0x is up by 16.6%
& finally the most gained coin is BAT which is up by 21.8%.
WHAT IS BITCOIN ETF (exchange-traded fund) & WILL THIS REALLY MAKE BTC REACH TO $50K OR ABOVE?
You must have heard about Bitcoin ETF recently and many of you even know what is this.
Bitcoin ETFs will give individual investors an opportunity to invest over the long-term in BTC, without the need to buy the Btcs directly. It'll also completely remove the hassles of managing digital wallets. Short-term traders can bet their money on short-term price moves of Btc ETF units and attempt to benefit from trading profits.
August 10 2018 is the date for the long awaited Bitcoin ETF ruling by the SEC, it is the day that the US Securities and Exchange Commission will close public comments concerning the listing and trading of the ETF.
{Date may be changed anytime but till it's the same.}
This might raise the money invested in Crypto to Trillions of dollars and this will eventually make Bitcoin cross $50k or even more.
THANKS FOR READING MY ARTICLE & NOTE THAT I'M NOT A FINANCIAL ADVISER ,CRYPTO MARKET IS VOLATILE & ANYTHING MIGHT HAPPEN SO BE ALERT!