Bitcoin Trend Series / EP. 588 / Geopolitical Risk / Steem Bounty Reward
Time: 8.30 A.M. / GM+2 / 10th May 2018 – Thurs.
Harry prays to God:
Please push Bitcoin price higher.
The second day Harry prays again:
Please make let the bull ride the market, Lord!
The third day, Harry begs:
Please Lord, push the price above 10K!
Suddenly he hears a voice from above:
Harry, would you kindly go and buy some Bitcoin.
Harry BGT Bitcoin and the 8.980K Low Was Quickly
Bought to a 9.375K High!
- The downward move this week coincided with a Harsh Critique from some billionaire investors that denied Bitcoin was an investment, insisting it was pure speculation:
Warren Buffett insisted;
When you're buying nonproductive assets, all you're counting on is the next person is going to pay you more because they're even more excited about another next person coming along.
Bill Gates said;
I would short it if there was an easy way to do it.
Nick Colas added;
The launch of bitcoin futures allowed pessimists to enter the market, which contributed to the reversal of the bitcoin price dynamics.
- Riskier assets like Bitcoin ( For now ) are being weighed down by risk aversion stemming ( Trump - Iran Deal ) from geopolitical risk ( This usually cause more bullish for the dollar and other safe-haven assets ).
In our previous post / 587 / we had forecast the trading range will be between 8.573K and 9.676K. The intraday high was 9.375K and the low was 8.980K.
Bitcoin price found support at 8.980K and shows sideways trading around 9.3K for now. Holding above 9.038K will push the price to the next resistance at the 38.2% extension at 9.600K or to the the full extension is at 10.158K.
Technicals indicators suggest the selloff could still resume, Stochastic suggests that sellers still have enough energy to push bitcoin price for more losses, and RSI indicate a return in selling momentum.
Clear break below 9.038K will move the price to the next station at 8.832K.
On 1D we have / Classical Triangle Pattern / with upper border between 10.10K -10.20K ( 10.158K ). So any move above 10K for moment will be limited to 10.158K and / Short Lived /.
On 4H / Deep Retracement Should Come / due appearing of upside reversal swing.
To conclude, A deep retracement, basd on 4H Butterfly "Sell" and 1H 3-Drive "Sell" is expected and most likely the / Retracement will be on Waves / towards: 8.832K / 8.573K / 8.367K / 7.770K.
...No Change...
We suggest / The Bearish Trend / for today.
Support 1: 8573.000 level.
Resistance1 : 9421.00 level.
Support 2: 8367.000 level.
Resistance2 : 9767.000 level.
Expected trading for today:
is between 8573.00 and 9767.000.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5947.00.
The high of 2018 (BitcoinTrader's Year):
16046.00 / Expected.
The high of 2019 (Bitcoin Holder's Year):
25000.00 level / Expected.
/ Project by @knircky & @famunger /
You must write a comment to the this post.
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.
Old people are often the last to embrace the crypto. My parents still thonk its poppycock.
They were wrong aboit the onternet and will be wromg abpit bitcoin
Excellent humor, I enjoy this 😎
It will be interestimg to see if the price makes it back to 7.7k im thinking that it will be towards of 8k
I must sincerely say that I'm praying for the price to go back to 6k or below so that I can borrow and buy some.
But unlike Harry I will soon buy #VIT (Vice Industry Token) when it hits $0.015 or below and sell when it hts $0.24 or more
@ Warren Buffet : Are talking about fiat currencies ?
@ Bill Gates : BTC is really easy to short ...
@ Nick Colas : First it made the price hit 20k$, then crash to less than 6k$, pump and dump scheme ...
yes hopefully bitcoin quickly creep up, so that investors do not lose, and continue to get bigger profits.
Some weeks ongoing sideward would be healthy. A solid bottom is necessary for the next take-off to the sky. At the end of this year we'll be far above 10k. And Bill Gates, if you read this, sell some BTC futures. It's so easy. Walk your talk. No excuses anymore. Go short. And show us some evidence.
nice
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Bitcoin is increasingly widespread in cyberspace, because its growth is included in the category "Extraordinary" for a currency or investment vehicle.
More and more people are crazy about this one investment, let alone some predictions have emerged that by the end of the year, the price of Bitcoin will reach $ 10,000 or about Rp. 135 million per BTC. In fact, for the long term Bitcoin will be able to reach the price of $ 100,000.
Currently Bitcoin is trading at a price of $ 8,137.22 or about Rp. 110 million per BTC. Whereas the price of Bitcoin in the first time created only about $ 0.1 only. this means that, within a period of 8 years alone, the price of Bitcoin has increased by 80,000-fold or 8,000,000%. This currency obviously instantly beat other types of investments such as CFD, Goldman Sachs etc, or Fiat currency like GBP, USD or EUR.
Forms of Investment and fiat currencies no one has recorded an increase in value growth to above 100% within 1 year. However, Bitcoin was able to score an 800% growth over the past year, from its January 2010 preliminary price of $ 890 to above $ 8,100 today. No wonder so many are tempted by the overwhelming profits of Bitcoin investments, even gold as a glorious investment from antiquity outdone Bitcoin.