Expected trading for today is between 7600.00 support and 9300.00 resistance
Inverse head and shoulders on 5H frame, can we see 11500.00 level + ?!
There are big chances, if bitcoin price clear 9400.00 the critical resistance level.
I believe the major correction is over and the uptrend is set to resume, breaching 9400.00 level, will confirm the continuation of the bull run towards 10700.00 levels.
Bitcoin price now is around 8400.00 level. The trend for today is slighty bullish, supported by a H&S bottom at 6k / 76.40% Fib. But as the sellers still dominate the market since the first of Feb, we need to to breach 9400.00 level to continue the bull run.
Technical indicators give mix signals, and bitcoin market keep taking its cue from sentiment and equity markets as the correlation seems to be strengthening.
Breaching 9400.00 level and hold above it, will push the price towards 10700.00, followed by 11500.00 level.
Note; A continuation of the selloff could take it down to break 7600.00 level and this will push the price towards 6800.00 level, before any new attempt to raise.
Expected trading for today:
is between 7600.00 support and 9300.00 resistance.
Expected trend for today :
Slighty bullish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00 / H&S bottom.
The high of 2018:
25000.00 level.
I hope we can see a rise in both bitcoin and Steem , just a little fall this time thank good it didn’t make another major drop
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Thanks @lordoftruth, i would love to give you the following results i got from research i did 25 years ago on stock-market historics. Average success of a normal head- and shoulders formation is 85% but only 65% for a reversed bottom formation.
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Maybe, but this is bitcoin :-)
The long term perspective is bullish, because cryptos in general are in times of mass adoption. And bitcoin is the boss.
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Bitcoin is The Grandfather
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:-) Long term bullish, yes. Bitcoin is the boss, yes. Nobody will go against that. I don't have enough statistical data yet to do same research on crypto but results with available data show very similar results as stock market and as such, i don't give too much importance on the inverted head- and shoulders, just saying :-)
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@bubke
Thanks for note and good comment..
I agree fully with you..
By the way I SLD the 19700.00 and I BGT the 6100.00
For me the bottom is in and I am bullish as trader and investor from the 6 K
Thanks for support.
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What do you think will happen with the price of steem?
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up
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In case of a sell of, before bitcoin breaks $7600, there seems to be another important support at $8000: the 200-day moving average.
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we can only hope that the bitcoin is stable again.
I am sure, that the coin bit will skyrocket again.
hopefully true
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Some of the information was unknown thanks
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currently all coins are trading on the green zone , looks like the upward trend may start soon, let see what happens after the chinese new year, if BTC surges then all the other coins will surge too
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I'm positive BTC can go up a lot more before gravity drags its value towards the bottom to something steady.
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Informative post upvoted
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this is very informative blog .thanks to you for sharing..i praise
you..
Carry on
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we love the bullish patterns thanks for sharing the trend :)
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Thanks for this. I think it's interesting comparing to the original Dec 2012 run and Jan 2012 sell off wondering how Feb & March pan out compared to 2012. I feel like 2018 is 2012 but on hyper-mode.
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I mean 2013 hitting $1k leading into 2014 Jan sell off.
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Ive made this exact same comparison. It felt the same. Charts looked the same. But we don't have the massive FUD like we did then. I think we can avoid the long term Bear this time if we keep getting decent news about future prospects of crypto gaining mainstream acceptance.
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Yep, and plus all the extra money pouring in and integrating with everyday business sectors more and more by the week. Its going to be the run from 2013 to end of 2017 all compressed into a way smaller period of the Q1-Q2 of 2018. Hopefully well on it's way past $19k by Q3.
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We are not breaking key resistance points and therefore will most likely head back down tore-test 6K, bounce and then hit one more low support around 4,800.
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wonderful.
Post i appreciate your post thanks for sharing this crytocurrency news.. best of luck my dear friends..
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Good bullish news.
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Steemit will be increase.....
That is my want...
great share Sir
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@lordoftruth thank you I hope that will recover soon his dynamic that was always in past..
##Upvote/Resteem###
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Agree on that formation. 9.2k btc is next target and then straight to 10k. Above 10k is safe space.
Also if you zoom in you will find out a bull flag in bitcoin.
Good post, followed ;)
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This post has received a 2.76 % upvote from @booster thanks to: @lordoftruth.
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what is your opinion about ETC?
it has resisted well despite loss in bitcoin and others
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resteemit done
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Yes HOLD..
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I really havent seen it this stable seemingly forever lol.
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Thank you lordoftruth for making a transfer to me for an upvote of 9.39% on this post!
Half of your bid goes to @budgets which funds growth projects for Steem like our top 25 posts on Steem!
The other half helps holders of Steem power earn about 60% APR on a delegation to me!
For help, will you please visit https://jerrybanfield.com/contact/ because I check my discord server daily?
To learn more about Steem, will you please use http://steem.guide/ because this URL forwards to my most recently updated complete Steem tutorial?
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Thanks for the analysis but do you make exceptions for manipulations?
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thanks for sharing this report on the trends of bitcoin the new graph looks amazing :D
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thank you for tech us
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Thank you for the information. let's build the long term.
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