Bitcoin Trend Series / EP. 690 / The Next Stations 7.285K / 7.497K

in #bitcoin6 years ago (edited)

Time: 9.00 A.M. / GM+2 / 02 Sep 2018 – Sun.

Recapitulation

  • Bitcoin price reached our first target at 7.188K and the market
    continue its Consolidation Mode, supported by EMA50, the reason
    why we believe that the price will move to the next station at 7.285K followed by 7.497K / 61.80% FIB, supported by Bullish Dynamic Pressure conditioned by the price stability above Key Support AT 6.880K.

Market Factors

  • Bitcoin market is Stable Due To Wall Street, while hodlers want to see BTC continue to shoot up in value, such lack of stability gives merchants cold feet.

  • While day traders could be responsible for the ranging market, bitcoin is stuck in. The coin may need Something Big to reactivate the long-term trend !

  • Traders still optimistic that the SEC could have a more positive decision in the pending bitcoin ETF applications.

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Technical

  • In our previous post / 689 / we had forecast the trading range will be between 6.880K & 7.285K. The intraday low was 7.028K and the high was 7.269K.

  • Bitcoin price most likely, will try to visit 7.285K followed by 7.497K / 61.80% FIB.

  • Keep in mind, If the Bears Sink Prices Below 6.880K, our bullish view will be invalidated.

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Sentiment

The trend is Bullish,
unless breaking 6.880K and hold below it !

Support 1: 6880.000 level.
Resistance1 : 7285.00 level.

Support 2: 6519.000 level.
Resistance2 : 7497.000 level.

Expected trading for today:
is between 6880.00 and 7497.00.

Expected trend for today :
Bullish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5782.00 / Fundamental Barrier / Done.

The high of 2018:
11700.00 / Expected!

The low of 2019:
6600.00 / Expected!

The high of 2019:
25000.00 / Expected!

Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of considerable returns down the road.

If you believe, that our little blog is useful for you,
consider purchasing us a box of beer to BTC Address:
3AmNtmR5F9RkACUyec9wTy2a1EP6B54t66

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YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.

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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I hope the Bitcoin ETF gets approved finally. Cryptocurrency market needs support news from governments and companies to rise in price and rich historic highs of market cap again, and that approval would have a very significant impact on his own.

Good analysis of Bitcoin.
You are the one who is really contributing in steemit community.

it has been growing steadily waiting for sudden moves

@lordoftruth in the past you ran a contest named steemitcofee.
Will you do it again?

Thank you for write of the bitcoin, Indeed it is the currency most used on the internet and it will remain that way as long as there is no competition that you remove clientele it's like saying that steemit will have use and popularity as long as no other means that make your users earn better money and therefore has more use what has better clientele and marke

@lordoftruth thanks for share this valuable post.

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This post has received a 6.45 % upvote from @boomerang.

good man!, but im still seeing that BTC will drop again by the SEC ETF