Bitcoin Trend Series / EP. 663 / ETF Approval

Time: 8.45 A.M. / GM+2 / 25th July 2018 – Wed.

• In our previous post / 662 / we had forecast the trading range will be between 7.050K & 8.000K. The intraday low was 7.921K and the high was 8.506K.

• Bitcoin price keeps achieving strong gains supported by EMA50 to suggest that, the bullish trend will continue towards 8.642K and this rising above 8.000K was due to prospects of the first cryptocurrency exchange-traded fund (ETF) Approval.

• We can clearly see the Low at 5.782K, has provided slowly, fresh buying pressure for Bitcoin price, which the weakness of the bears try to push the price toward the major resistance level at 8.642K.

• RSI reflect a return in selling pressure, similarly Stochastic signal a return in bearish pressure. The reason why we believe the sellers might try to take control of Bitcoin price around 8.642K.

Sentiment

The trend is Slighty Bullish for today.

Support 1: 8280.000 level.
Resistance1 : 8.642.00 level.

Support 2: 7650.000 level.
Resistance2 : 9000.000 level.

Expected trading for today:
is between 8.000.00 and 8642.00.

Expected trend for today :
Slighty Bullish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5782.000

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.

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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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