Bitcoin Trend / 11-10-2017

[lordoftruth]

 Expected trading for today is between 4600.00  support and 5100.00 resistance  

CNBC reports of a mysterious flash crash in the price of Bitcoin. According to them, the crash took place at around 9am UK time. Based on CoinDesk’s price index, the value of the digital asset fell from a high of $4,867 to a low of around $4,200. It was down $600 for the session (12%) but recovered fast returning back to around $4,780 just ten minutes after the supposed crash.

For now, there is little information circulating about this morning’s flash crash but no exchanges are currently under investigation. As CNBC hint, it may simply be a mistake on behalf of CoinDesk.

Source

Price tested 4900.00 level close to the record highs
and might be due for a quick pullback to support..

So What Next..

Contradiction Between Technical Factors
Stay Aside

• EMA50 supports the chances of extending the bullish wave.

• The 100 SMA is above 200 SMA so the uptrend is more likely to continue than to reverse.

• Breaching 4980.00 level and holding above it, will push the price towards 5500.00.

• Bitcoin price could stay supported as geopolitical risks ( North Korea and South Korea ).

• Stochastic suggests that bears could take a break soon.

• A break below the 200 SMA, however, could be signal of a reversal.

• Breaking 4236.00 and hold below it will stop the bullish trend.

Expected trading
for today is between 4600.00 support and 5100.00 resistance.
Expected trend for today: Bullish, but quick pullback may happen any time!

Source

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Comments

[freiheit50]

There was no flash crash on bitstamp and bitfinex. Weird.

[lordoftruth]

As CNBC hint, it may simply be a mistake on behalf of CoinDesk.
Price tested 4900.00 level close to the record highs
and might be due for a quick pullback to support
100 SMA is close to 38.2% Fibonacci retracement level around $4600.00
200 SMA is close to 61.8% Fib at $4400.00
If any of the retracement levels keep losses in check, bitcoin price could move back $5500.00

[theguruasia]

@lordoftruth,
It seems like BTC Trend is continuing! That's a great analysis friend! Thanks you very much for sharing such great article with us!

Cheers~

[lordoftruth]

Price tested 4900.00 level close to the record highs
and might be due for a quick pullback to support..
100 SMA is close to 38.2% Fib around $4600.00..
200 SMA is close to 61.8% Fib at $4400.00..
If any of the retracement levels keep losses in check, bitcoin price could move back $5500.00..

[kizzbonez]

I hope that bitcoin reach the 5000+ then I will going to exchange my coin.Thanks for the info .. Resteemed and upvoted

[rehan12]

Nice analysis buddy and hope it will get an uptrend & reach higher destinations

[dinsha]

great analysis..
One more news - Russia is going to block crypto exchange sites. This news will affect bitcoin price.
Cheers!

[stmit]

Great graphic chart. good news for btc.
100% like and resteem

[steemwija]

@lordoftruth - It's a very useful analysis for me Sir.... Nice you decided to share it <3

+W+ [UpVoted & ReSteemed]

[how2steemit]

Great news.thanks

[freezo]

Informative post, thanks.

[madushanka]

Excellent news for bitcoin trend @lordoftruth

[kingsberry]

Thank a lot for sharing about bitcoin trend today with analysis graph @lordoftruth

[nazarwills]

Very good. . . Thankyou for information @lordoftruth 🙏👍

[theexpert]

Is BTC really crash again? @nazarwills

[minnowpond1]

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[fawadnaseem]

this is not stopping

[goldcoin]

Thanks for the update of btc trend .

[tony-duke]

Should bitcoin hit the resistance level of 5100, i see it pushing upwards to a 5500 support

[rajorajiten]

So sad but like this post

[dianna1]

Currency 6000 $

💶💶💶💷💶

[blazing]

Thanks for this technical analysis :)

[naveendavisv]

[raghwendra]

Yes next resistance of btc is 5050! If they breakouts that resistance than I don't thinks easily stopped on 5050! It's time to hold our bitcoin:))