Expected trading for the rest of day is between 5300.00 support and 5800.00 resistance
The price of any coin is driven by supply/demand ratio.
The value a coin is driven by supply/demand ratio.
For example, if the number of buy orders is more than the number of sell orders, the value/price of the coin will increase.
Bitcoin is only a currency because we decide it is. In essence, we are giving it value. If enough people give it value, for example by buying bitcoin with fiat currency, the price increases. Now, the inverse also applies. If enough people sell bitcoin, it pushes the price down.
So it becomes a game of psychology.
Bitcoin price shows some bullish today to retest 5700.00 level.
EMA50 forms negative pressure and support the correctional bearish trend.
Stochastic & RSI show exhaustion among bears.
Bitcoin continued its negative pressure towards 5422.00 level.
Breaking 5422.00 and hold below it, will move the price to test 4950.00 level.
Breaching 5920.00 barrier and hold above it, will cancel the suggested bearish correction and will push the price again to 6200.00.
Expected trading
for the rest of day is between 5300.00 support and 5800.00 resistance.
Expected trend for the rest of day: Bearish.
What You Know About --> Fibonacci Retracement in Trending Market.
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Many many thanks for upvote our comments.@lordoftruth you are a great man.i salute you boss.go ahead.we are with you all time.best of luck
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you have my full UV, great post!
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Thanks for support
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your post is always good.i always resteem upvote you.i also follow you
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@lordoftruth,
"Bearish" trend! I like it! Great update friend!
Cheers~
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@lordoftruth - Sir, by using a graph & news you analyzed the market perfectly.... Excellent work Sir.... You are sharing those information too.... I'm little worried what's going on now.... Stressful moment Sir :(
+W+ [UpVoted & ReSteemed]
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Great update for bitcoin info and good analyses .
thanks for sharing
100% like and resteem
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I will be happy once all this forking and new coin creation is done and over with. I really think this is bad for crypto overall as it seems people are just trying to get some more free coins and not looking into what is actually good for the crypto space.
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Ohhh..that's looking nice,you got a great talent that you are using in Steemit that actually its pays you ... I think you will get success . May God bless you !!!!👍
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Ohhh..that's looking nice,you got a great talent that you are using in Steemit that actually its pays you ... I think you will get success . May God bless you !!!!👍
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Very good analysis
Thanks for post share
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Smart analysis!
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bit coin is really a great way.i am very interested in bit coin.thank you
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Nicely analysed bitcoin trend midday update . Thank you @lordoftruth
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Bitcoin value grow up very speedily. Thanks a lot for sharing BTC trend midday.
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Thanks for the valueable info. appriciate that ;)
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img credz: pixabay.com
Nice, you got a 8.0% @minnowbooster upgoat, thanks to @lordoftruth
Want a boost? Minnowbooster's got your back!
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The @OriginalWorks bot has determined this post by @lordoftruth to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
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Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!
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nice thanks for sharing
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Thanks for your post.....Also visit my post and comment @vindy
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Thanks for your post.....Also visit my post and comment @vindy
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Nice post @lordoftruth
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Fantastic analysis, as always.
We are in another small correction right now, but as you said it seems that it will soon break above $6000 once again.
As always, I am HODLing through the dip.
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Many many thanks for upvote our comments. @lordoftruth you are a great man.i salute you boss.go ahead.we are with you all time.best of luck
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Thanks for sharing @lordoftruth It's really very helpful post and I also resteem your post
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