Time: 8.22 A.M. / GM+2 / 11th July 2018 – Wed.
In our previous post / 649 / we had forecast the trading range will be between 6.210K & 6.842K. The intraday low was 6.260K and the high was 6.654K.
Bitcoin price tumbled yesterday as its attempt to rise above 6.842K
was met with a wave of selling pressure, the reason why bitcoin price completed forming Bearish Flag Pattern ( 4H ), settled below EMA50 and broke 6.400K level, as expected. So we're still waiting for a move below 6.210K, to test 6.039K within 1-2 sessions.Weekly Setups stands the same and our major target of AB-CD Pattern around 4.300K still valid as long as the price below 6.842K.
- On Daily Chart we're still watching for AB=CD target also. As a lot of stops could be accumulated below 5.870K lows and once they will be triggered, the price could accelerate lower towards 5.500K
followed by 4.300K.
- So, there are no change in our Bearish Scenario unless breaching 6.842K and settling above it, due to the expected contiuned negative pressure on short term.
The trend is Bearish for today.
Support 1: 6039.000 level.
Resistance1 : 6705.00 level.
Support 2: 5780.000 level.
Resistance2 : 6842.000 level.
Expected trading for today:
is between 6039.00 and 6705.00.
Expected trend for today :
Bearish.
Medium Term:
Bearish.
Long Term:
Bullish.
The low of 2018:
4267.00 / 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.
