Bitcoin Trend Series / EP. 701 / The Battle Between The Bull & Bear

Time: 8.53 A.M. / GM+2 / 14 Sep 2018 – Fri.

Bitcoin price begins today’s trading with clear rise to breach 6.497K
and hold above it, trying to test 6.880K, but Bitcoin price is still making lower highs, even though there have been slight positives with the cryptocurrency making slightly higher lows !
The Key is going to be when Bitcoin trades back above 6.880K, If Bitcoin price can bust above 6.880K, it will likely take out the high at 7.350K and make a higher high. Once that happens, investors will start buying heavily, and the upside could be back to 11.700K within
months !
But Keep In Mind, you should not forget that market action has bearish sentiment with 5911K target on daily chart. It means that whatever long position you will take on intraday setups, it is better to take profit fast, as the short - term trend still Bearish Unless Breaching 6.880K and hold above it, and we still believe that the chances are valid to continue the decline toward 5.911K !

Cryptocurrencies rose on Friday morning in Asia, as initial coin offering (ICO) projects sold three times more Ethereum in the past 10 days than in August.
Telecom group Softbank, software firm Synchronoss Technologies and blockchain company TBCASoft completed a Proof of Concept (PoC) trial for a new mobile payments system that enables global peer-to-peer payments across different carriers.
Morgan Stanley plans to offer trading in derivatives tied to bitcoin, according to a Bloomberg report, after its rival Goldman Sachs Group reported to abandon plans to open a desk for trading digital tokens due to unclear regulatory framework.

In our previous post / 700 / we had forecast the trading range will be between 5.911K & 6.497K. The intraday low was 6.370K and the high was 6.580K.
It is important to Monitor the price behavior If Reaching 6.880K, as breaching it will extend Bitcoin price gains to reach 7.188K, but as long as the price below it, the short trend is Bearish and the way is open to 5.911K !