Bitcoin Trend Series / EP. 551 / Bitcoin Advance Due To Bearish Exhaustion / Steem Bounty Reward

Time: 8.08 A.M. / GM+2 / 3rd Apr, 2018 – Tues.

• Cryptocurrency struggled during the first quarter of 2018, with the capitalization of all combined cryptomarkets falling 59% since January, according to Coinmarketcap. But bitcoin is attempting to switch to a recovery mode on Monday after a major sell-off during the last week, as the current bearish trend starts to signal some signs of exhaustion and may come to an end in the nearest future.

• In our previous post / 550 / we had forecast the trading range will be between 6.60K and 8.18K. The intraday high was 7.31K, and the low was 6.84K.

And as our last forecast:

"The next 48 hours, the price may correct higher towards 7.49K - 8.18K"

A few bullish in play and another Possible Rise In Bearish Market towards 7.49K followed by 8.18K supported by MACD is expected.

• We still suggest the bearish trend domination, unless the price managed to breach 8.18K and hold above it. However, technically, bitcoin price is ready for a corrective rebound and managed to hold above the the turning point at 6.38K as we said in our post / 549 /.

  "..BTC will stand up after it died on death cross and on the 2nd easter day will found the turning point."

So I still believe a break to the next traget at 7.49K is expected followed by 8.18K, where might face sellers at this level.

Support 1: 6600.00 level.
Resistance1 : 7490.00 level.

Support 2: 5947.00 level.
Resistance2 : 8180.00 level.

Expected trading for today:
is between 6600.00 and 8180.00.

Expected trend for today :
Slighty Bearish.

Medium Term:
Slighty Bearish.

Long Term:
Bullish.

The low of 2018:
5947.00 / IHS Bottom.

The high of 2018 (BitcoinTrader's Year):
14000.00 level / Expected.

The high of 2019 (Bitcoin Holder's Year):
??? The new all time high is 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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investing considerable time and effort up front in
hopes of considerable returns down the road.
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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.