Bitcoin Trend Series / EP. 656 / The Confirmation Line

Time: 8.27 A.M. / GM+2 / 17th July 2018 – Tues.

• In our previous post / 655 / we had forecast the trading range will be between 6.039K & 6.842K. The intraday low was 6.349K and the high was 6.771K.

• Conform 4H, Bitcoin price has completed its inverse head and shoulders reversal pattern and continues to fluctuate above 6.700K,
  so we are now waiting for the pattern's confirmation.

• The Confirmation Line is located at 6.842K, as breaching this level will provide positive factor, to lead to a climb towards 7.150K followed by 7.360K.

• The Expected Upmove remain valid conditioned by price stability above 6.420K.

• For Our Long Entry, we moved our SL from 6.039K to 6.300K ( break-even).

• Weekly Setups stands the same and our major target of AB-CD Pattern is around 4.300K.

Sentiment

Based on the above
The trend is Bullish for today.

Support 1: 6420.000 level.
Resistance1 : 6842.00 level.

Support 2: 6200.000 level.
Resistance2 : 7360.000 level.

Expected trading for today:
is between 6420.00 and 7050.00.

Expected trend for today :
Bullish.

Medium Term:
Bearish.

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.   

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