Bitcoin Trend Series / EP. 590 / Buying Opportunity / Steem Bounty Reward

in #bitcoin6 years ago (edited)

Time: 8.10 A.M. / GM+2 / 12th May 2018 – Sat.

  • In our previous post / 587 / we wrote: Retracement will be on Waves towards / 8.832K / 8.573K / 8.367K / 7.770K.

17.jpeg

  • The first 3 targets 8.832K / 8.573K / 8.367K was met. The price now pause around 8.367K but further losses are expected eventually towards 7.770K as our forecast in our previous post / 576 /.

122.jpeg

  • So keep an eye on the 4th station at 7.770K, as a buying opportunity that build our inverted head and shoulders.

Market Factors

  • Apart from the technical signals, which are getting more bearish after a break below the 100-DMA, there are some other drivers behind the continued correction from highs close to the 9.990K.

I- Some negative pressure came from NVIDIA, as the tech firm predicted a big drop-off in cryptocurrency mining demand in the second quarter of 2018:

II- Another source of the increased selling pressure was the news that Mt. Gox trustees have moved another $80 million of digital currency into cold storage.

  • Prospects for the end of 2018 keep tormenting every crypto-investor. Bitcoin price continues to suffer losses on Friday and failed to keep above the key 9K and most likely we will see a decline below 8K area.

Technical

  • In our previous post / 589 / we had forecast the trading range will be between 8.573K and 9.676K. The intraday high was 9.004K and the low was 8.333K.

  • Hourly MACD in the bearish zone and RSI is currently near the extreme oversold levels.

Sentiment

We suggest / The Neutral Trend / for today.
Keep an eye on the 4th station at 7.770K, as a buying opportunity.

Support 1: 8367.000 level.
Resistance1 : 8643.00 level.

Support 2: 7770.000 level.
Resistance2 : 9050.000 level.

Expected trading for today:
is between 7770.00 and 9050.00.

Expected trend for today :
Neutral.

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):
36000.00 level / Expected.

Bounty.png

Remember in order to qualify for a @steem-bounty reward
/ Project by @knircky & @famunger /

You must write a comment to the this post.

10559903_827991603901191_6823467013727099018_n.jpg

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.   

5000.gif

Sort:  

time to buy it up! what a sweet opportunity!

Damn, in the short term forecast you are right. You are a magician.

Lol..
I am just a trader like you..
I hope I am right in short trend at least..
Thanks for continued support to my work..
Have a great weekend..

Many thanks for this update. Impressive how certain you were about this upcoming correction whilst most other TA’s where all just referring to a minor correction instead. You never changed your assessment and you were right!

Thanks for support..

@lordoftruth has set 0.853 SBD bounty on this post! logo_for-light-bg_1000.png What is a bounty exactly?

A bounty is money sent to a post to be distributed to the users commenting on it. It provides a way to reward users directly and works in addition to the steem/sbd they receive from the blockchain. It works independently of SteemPower.

You create a bounty by sending any amount of sbd/steem to @steem-bounty together with a post-url in the memo.

How can I earn a bounty Users are then competing for the bounty by writing their answers to the post in comments that will achieve upvotes from the community and especially the bounty creator. The money of the bounty gets distributed to all top level comments of the post at the same time when the post is paid out (7 Days after it was written). How much everyone gets depends on the votes the comments received. The sender of the bounties votes are weighted higher so that she decideds where 80% of the bounty money goes and all other votes determine the rest.

@steem-bounty does all of this for you automatically. You can use this service to automatically pay out a challenge, ask a hard question or simply to reward the people that interact with you.

Read more about how it works, even in different languages here.

Congratulations to the following winner(s) of the bounty!

  • @kywt has earned 0.032 SBD. 0.000 SBD from the creator of the bounty and 0.032 SBD from the community!
  • @s3cr3t has earned 0.166 SBD. 0.165 SBD from the creator of the bounty and 0.001 SBD from the community!
  • @hoppe has earned 0.173 SBD. 0.173 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @freiheit50 has earned 0.189 SBD. 0.189 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @jwolf has earned 0.148 SBD. 0.148 SBD from the creator of the bounty and 0.000 SBD from the community!
  • @masterroshi has earned 0.079 SBD. 0.000 SBD from the creator of the bounty and 0.079 SBD from the community!
  • @yourinfo has earned 0.014 SBD. 0.000 SBD from the creator of the bounty and 0.014 SBD from the community!
  • @dillagr has earned 0.045 SBD. 0.000 SBD from the creator of the bounty and 0.045 SBD from the community!

So far is like you are seeing in future :) But bounce to 12k well that will be hard task and interesting you still think we wont see new bottom in 2018. Every good prediction is % game so what % you are giving that 5947$ was this year BTC bottom?

The bottom of 2018 most likely will hold
Thanks for support
No one can see the future!
No one knows tomorrow's price or circumstance!
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.

is TA recommended to be done at 4H? or does it depend on whichever type of trader you are?

$36,000 will be the price for 2 BTC 😂

If you are not happy , I will rise it to $64000
Hehe..

I changed my mind..sorry.. I meant $36,000 for 3 BTC 🍻🍻😂

I changed my mind aslo..
I will kill you the next week..
Have a great weekend..

DRACULA.jpg

You can't kill me, I am fighting with you against the invaders!

img452.jpg

Very helpful, thanks

Thanks for sharing a good post bro

Yes. Its seems to be interesting post. Detailed explanation. Good.

Coin Marketplace

STEEM 0.36
TRX 0.12
JST 0.039
BTC 69965.85
ETH 3540.49
USDT 1.00
SBD 4.71