Bitcoin Trend Series / EP. 715 / Sideways Trading

Time: 8.10 A.M. / GM+2 / 2nd Oct. 2018 – Tues.

Recapitulation

• Bitcoin price show more Sideways Trading, settling around EMA50, While Stochastic forms positive factor that most likely will push the price to resume the bullish trend, towards 6.879K & 7.188K.

Market Factors

• Malta is not the only country in the world that’s a crypto safe haven. Japan has and continues to embrace innovation and not a threat to their economies as Mark Carney stated early this year. Funds as Fidelity, for example, believe cryptocurrencies and blockchain are at a proof of concept stage with limited user cases and they plan to explore.

• While the space can Self Regulate, the involvement of government regulators who board the crypto bus for the "sake of ordinary investors" isn’t well received by crypto maximalist. All the same, currently cryptos are still in the development stage. Once they grow large enough they can function without oversight of the SEC or CFTC or courts and governments as Satoshi intended it to be.

Technical

• In our previous post / 714 / we had forecast the trading range will be between 6.290K & 6.879K. The intraday low was 6.500K and the high was 6.655K.

• The Bullish Trend is suggested for today unless breaking 6.497K and holding below it.

Sentiment

The short term trend is bullish
unless breaking 6.497K and holding below it.

Support 1: 6497.000 level.
Resistance1 : 6879.00 level.

Support 2: 6290.000 level.
Resistance2 : 7188.000 level.

Expected trading for today:
is between 6290.00 and 6879.00.

Expected trend for today :
bullish.

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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.   

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