Time: 8.27 A.M. / GM+2 / 30th May 2018 – Wed.
- Bitcoin price shows some bullish to test EMA50 due to a Bullish Divergence, but Stochastic entering the overbought areas to form negative pressure, the reason why we expect a Rejection Around 7.500K - 7.614K Area in bitcoin price against US Dollar, which suggest surpassing the crucial support 7.100K - 7.210K to continue the decline toward our First Target at 6.519K Within 1-2 Weeks.
- At press time, bitcoin is trading around 7.500K and the chances is still valid to achieve more decline to extend losses to reach 6.519K - 5.878K - 4.300K as long as the price Below 7.910K.
Global Financial Markets are getting unsettled about Italy, and it isn’t because the Azzurri didn’t qualify for the soccer World Cup. The political situation is worsening, with downside for confidence around Euro-Zone stability.
Italy May Be Forced into another election as soon as July 29. Earlier reporting suggested September for another election. The question for markets is what the ECB could or wants to do to stem the market turmoil. At least, expect ECB officials to make soothing comments about having the tools available to head off a crisis.
It looks like Fears Of Rising Anti EU Sentiment are driving up demand for bitcoin price, as this has been evident during previous referendums wherein euro zone nations threatened to leave the bloc.
In our previous post / 607 / we had forecast the trading range will be between 6.915K and 7.614K. The intraday high was 7.560K and the low was 7.051K.
Looking at the weekly chart, will see that bitcoin price has failed to reach 10.158K and turned down, and the 2 weekly bearish stop grabbers ( G seen on chart ) after breaking 7.614K, suggest drop below 6.519K, to test 5.878K reaching 4.300 area, where Long Term Traders Should Wait this level as potential bullish reversal.
The bearish trend remain valid conditioned by Stability Below 7.910K and the most important level at 8.643K.
We will suggest / Bearish Trend / for today.
Support 1: 6519.000 level.
Resistance1 : 7614.00 level.
Support 2: 5878.000 level.
Resistance2 : 7910.000 level.
Expected trading for today:
is between 6915.00 and 7910.00.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5947.00 !!! / 4300.00 Expected.
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.
investing considerable time and effort up front in
hopes of considerable returns down the road.
I'm so proud of my little blog, and so grateful to all of you
for support to keep it going.
Thanks you. Thank you. Thank you.
Why is it so hard to find some real market participants here? Every day the trending page is filled with falling wedges, Elliot wave breakouts, trendline and hourly resistant breaks...all a crock of crap really. We are headed lower where we find some Panic...i have been agreeable with you while the majority hopes for higher.
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People read carefully his TAs he is really good and presents most likely paths without being bias!
In my opinion he was bullish a bit to long but he did already started presenting bearish scenario when it became more and more possible so he did great job.
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do we have any chances of get into bullish mode ??
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The chances is so small for now..
Most likely the price will continue the decline for now as long as the price below 7.910K.
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thanks man for the reply .let us know in near time when any sign of bullish mode you see.
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Can you give any predictions that what will be the price in next few weeks of bitcoin.
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Most likely First Target at 6.519K will be within 1-2 weeks..
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I love you teacher 😘
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This post has received a 10.76 % upvote from @booster thanks to: @lordoftruth.
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You got a 6.56% upvote from @upme thanks to @lordoftruth! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
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Thanks for the information being giving sir, i follow you always
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Your writting skills and article is good and it is useful information about crypto/bitcoin/trading related
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sir cam you give prediction what will the price of bitcoin and sbd in dcember 2018
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thank you very much, your posts help me to locate a bit in what is happening and in what could be a forecast. Based on your knowledge. It is a good way to explain and exemplify the events that are taking place. Thank you
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the upper resistance is still to be broken but looks quite fine now :D
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There is nothing bullish in the chatting
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