Bitcoin has been trading within an uptrend for two weeks, since February 6, as I predicted.
And paused from its climb yesterday, as the selling pressure got started from 11.7 k due to bearish divergence, as I wrote yesterday, in my last post :
"Stochastic indicate, selling pressure might return soon
( bearish divergence ).
The reason, why I think the upmove will be limited
today to 12000.00 level."
Image Source
Expected trading for today is between 9700.00 support and 11700.00 resistance
Looks like fear is stronger than greed. The reason why bitcoin price has reached an intersection of sorts at 11.7 level, caught between positive and negative forces.
Most of you know, that I went up with a call buy at 6.1 k ( close to the bottom at 5.947 K ). Yesterday I SLD at 11.65K. As I wrote in comment :
"To be honest I do not like this bearish divergence, as might lead to a big drop from 11700.00 the top of today or from the 12000.00 level. ( No new bottom. Do not panic )."
"My last buy call at 6.1K gave a profit 5500$ per bitcoin
( I SLD at 11.65 K )"
You might ask : Why I sold?
My answer is : The ball is back in the bears court.
Bitcoin price now, is around 11100.00 level and the trend for today is slighty bearish. I will come up with new update, today later or tomorrow morning with charts and more info about the possible drop.
Expected trading for today:
is between 9700.00 support and 11700.00 resistance.
Expected trend for today :
Slighty Bearish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00 / H&S bottom.
The high of 2018:
25000.00 level / Expected.
Happy to see that longterm sentiment is still bullish... 25000 target for 2018 would be really good... I am holding it for longterm!
The picture is wery nice! Thank you for joking during this bearish move.
Your prediction was very clever, too!
Chapeau!
Thank you..
New update coming soon..
Need sometime to predict the low of this drop, to can come up with a new buy call..
Hello LordofTruth,
I love your TA but would like to know what is your time zone for your prediction?
Thank you very much!
I will put the hour, the date and time zone in every post from now
Thank you
and I placed my sell order at $11.85k :'(
Isn't it only normal for bears to take control for a while? Afterall, a move from $6500 to $11500 is a large one in percentages.
Very interesting post.
wow very nice excellent post
Thanks a lot for sharing your valuable post....
Carry on next
Best of luck..
I will still wait for your next post....
I sold earlier today as well. Super reassuring seeing you did the same!. 🥂
The low of 2018:
5947.00 / H&S bottom.
H&S meaning?
Head and Shoulders. A term used in Technical Analysis as opposed to the shampoo
Thanks for your accurate analysis, waiting for the rest today or tomorrow morning, how far do you think this bearish tend will last?
This is headed to higher highs, however btc cant go up every single day sometimes
Thank you for collaborating with me to promote this post as explained at https://steemit.com/steemit/@jerrybanfield/10-ways-to-fund-a-steem-growth-project.
Bear are back, for how many days til the next strong support?
Looks you are absolutely correct today slightly on the bearish track after huge volume due to FOMO
This post has received a 10.11 % upvote from @booster thanks to: @lordoftruth.
Although I do not know much about bitcoin but I am very happy to follow your post every day.
Good post @lordoftruth
very important post for today..
thank you.
@positivethink says @lordoftruth #lordoftruth Your today's text is the right information about the controversy, which is very useful thanks to Bitcoin lovers like me, waiting for more information.
your post's are awesome i am loving it to see always :)
Hoo so fanny ★★★
I think in 2018 i expect at least 35000 dollars.