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Do you believe that Bitcoin has the potential to create an economic revolution, by taking the power from the governments/banks and putting it back in the hands of the people?
In my opinion this is bigger than one nation and China is just panicking a little bit.
They will understand eventually that it’s better to be a part of the game of the new economy than outside of it.
Soon they will let the exchanges reopen.
Expected trading for the rest of day is between 3700.00 support and 4236.00 resistance.
The decline of bitcoin price was stopped at 61.8% Fibonacci correction level (for the rise from 1800.00 to 4980.00) and formed solid support at 3033.00, and Bitcoin price after the bearish correction to 3000.00 level, back to the main bullish trend, moved upwards strongly and breaking 3776.00. After the bullish rally, bitcoin started to show some bearish correction after it faced solid resistance at 4075.00 and trying to test 3776.00 level that represents 38.2% Fibonacci correction (for the rise from 1800.00 to 4980.00).
- Bitcoin price keeps its stability above the EMA50.
- Stochastic provide positive motive to push the price to breach the key resistance 4075.00.
- Breaching 4075.00 confirm the continuation of bullish trend.
- Breaking 4236.00 and holding above it will push the price to 4980.00.
- The price must hold above 3776.00 to keep the bullish trend.
- Breaking 3776.00 level and holding below it will cancel the bulish trend.
Expected trading
for the rest of day is between 3700.00 support and 4236.00 resistance.
Expected trend for the rest of day: Bullish.
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Again I am bullish now. The comparision with the cat is very true.
HODL.
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I am sure that bitcoin will see 5K gain by year end , good post my friend
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5500.00 I think..
This is the reason why the 5500.00 in my chart..
By the way I draw it 4 months ago..
Thanks for support..
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good point, feel free to see my latest post on Dtube ability to kill Youtube when you are free...wish you success
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Bitcoin came so close to $5,000, I think it will test that area again, hopefully soon. Don't think China can manipulate much now, perhaps that's a good thing?
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This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
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China is definitely a giant. But besides China there is another world. Great demand provokes a big price increase. While Bitcoin is not so popular all over the world, pump and dump are possible.
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Good analysis. Ambitions and dreams are certainly good, but technical analysis is above all! I want this in my feed! Resteemed!
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Bitcoin for 5000 will be next year. This year the price will grow slowly. We have already lost China. I think that this year nothing more will happen.
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I think Bitcoin will hit 5000 mark soon. China is now slowly realizing that they cannot break the trend set by bitcoin..
Sooner or later we can see it.
Thanks @lordoftruth for the info
Cheers!
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@lordoftruth,
"A Cat Has Nine Lives But Bitcoin Has More" that's funny and absolutely true my dear friend! Great analysis and thanks for sharing! Hope price will bounce between "3700.00 - 4236.00"!
Cheers~
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Of course, I believe that Bitcoin is a revolutionary tool. Blockchain is a revolution at all. Steemit too!
We are a unique community, because we all here believe in Bitcoin!
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Great post
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This is actually some astounding work! Followed
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hahah that title though :D
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This post recieved an upvote from minnowpond. If you would like to recieve upvotes from minnowpond on all your posts, simply FOLLOW @minnowpond
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Thanks for the information sir.
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Nice post dear friend and i like post you @lordoftruth
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I think Bitcoin will hit 5000 rank pretty soon. China is now slowly realizing that they cannot break the trend set by bitcoin.. great post as always
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Get ready for the next rally, it is time for ethereum to win.
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