Bitcoin Trend Series / EP. 629 / Sideways Track

[lordoftruth]

Time: 8.17 A.M. / GM+2 / 20th June 2018 – Wed.

• In our previous post / 628 / we had forecast the trading range will be between 6.039K & 7.090K. The intraday low was 6.560K and the high was 6.848K.

• Bitcoin price formed a support at 6.107K and for now the price fluctuate within Sideways Track, keeping stability inside the bearish channel Borderd by 6.300K - 6.900K.

• Most important moment here is going again Below 6.519K lows in the next days to can move Below 5.878K as a lot of stops could be accumulated and once they will be triggered, the price will accelerate lower, right to our destination at 4.300K Area / Butterfly "Buy" within 2 weeks.

• Stochastic shows overbought signals, to support the chances of resuming the bear run.

• MACD back in the bearish zone and RSI is moving lower towards the 60 level.

• At press time, bitcoin price is around 6.600K and our Bearish Overview remain valid, conditioned by the price stability Below 7.090K.

Sentiment

Based on the above
We suggest / Bearish Trend / for today.

Support 1: 6039.000 level.
Resistance1 : 6800.00 level.

Support 2: 5878.000 level.
Resistance2 : 7090.000 level.

Expected trading for today:
is between 6039.00 and 7090.00.

Expected trend for today :
Bearish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
5947.00 !!! / 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.

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

Writing a series means playing a long game,
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.

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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Comments

[adimugri]

I think the bullish season is around the corner, the trianle is getting tighter

[blazing]

Bithumb hack might pull back prices seems like a big hacking there lets just hope not so

[nayem233]

Thank you very much for informing Bitcoin's price. This information is important for many. This information will help a lot for those who work in bitcoin. Thank you again for giving a nice information.

[booster]

This post has received a 8.35 % upvote from @booster thanks to: @lordoftruth.

[muktaridha]

hmm, hopefully this empiric proof became more reality, thanks you to create this great analysis