Bitcoin Trend Series / EP. 679 / The Broad Range 6.039K - 6.680K
Time: 8.42 A.M. / GM+2 / 20th Aug 2018 – Mon.
Recapitulation
Technically our major weekly target stands at 4.444K, the butterfly target, that we've mentioned in our post / 648 / !
Fundamentally, we've estimated that Bitcoin Breakeven Mining Expense stands between 5300$/BTC and 5800$/BTC, in our post / 653 / !
Fundamental Background remains the main driver for bitcoin market, the reason why we believe that bitcoin price will be Difficult To Test 4.444K, that we've suggested in the below weekly chart !
Market Factors
Bitcoin Exchange Traded Funds / ETF are yet to become a reality for US investors keen on sinking their hard-earned capital to this coveted security instrument. According Bloomberg, NASDAQ Stockholm is now creating opportunities for investment through exchange traded notes / ETN.
Next ETF decision deadline is August 23rd, but the SEC may announce
the decision a few days before !
BTC ETF Alerts Service by Blocknewsfeed give you the possibility to activate:
- E-mail Alerts.
- Telegram Alerts.
To have access to the ETF News within 2 minutes of the official ruling posting on the SEC website, to take advantage of the quick and large bitcoin price movements that follow ETF decision.
Subscribe to Bitcoin ETF Alerts now to be one of the first people that will know the next ETF decision.
For more info, feel free to check the source
Technical
In our previous post / 678 / we had forecast the trading range will be between 6.039K & 6.680K. The intraday low was 6.310K and the high was 6.550K.
Conform Daily Chart, the bears have repeatedly pushed prices down from the 6.650K level, the reason why we believe that 6.160K will be The Crucial Area, as if bitcoin price drop back below 6.160K, this will increase chances on further drop !
Breaking 6.160K will move the price again to test 6.039K, and breaking 6.039K will extend the losses to 5.872K again. While Breaching 6.680K and holding above it will stop the expected decline.
- Bitcoin price remains in a Broad Range 6.039K- 6.680K, and today it may continue to trade sideways. Conform 4H Chart, the bulls is likely to face resistance around the Zone 6.650K - 6.680K.
Sentiment
current spot prices and 6.680K.
Support 1: 6160.000 level.
Resistance1 : 6680.00 level.
Support 2: 6.039.000 level.
Resistance2 : 6964.000 level.
Expected trading for today:
is between 6039.00 and 6680.00.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5782.00 / Fundamental Barrier / Done.
5350.00 / New Low / Expected!
The high of 2018:
11700.00 / Expected!
The low of 2019:
6600.00 / Expected!
The high of 2019:
25000.00 / Expected!
investing considerable time and effort up front in
hopes of considerable returns down the road.
consider purchasing us a box of beer to BTC Address:
3AmNtmR5F9RkACUyec9wTy2a1EP6B54t66
do you have some posts about butterfly pattern sir?
thx so much
Thank you. I also look forward to your posts each day. :)
@lordoftruth has set 0.321 STEEM bounty on this post!
Bounties are a new way you can earn rewards irrespective of you Steem Power. Go here to learn how bounties work.
Earn the bounty by commenting what you think the bounty creator wants to know from you.
Find more bounties here and become a bounty hunter.
Happy Rewards Hunting!
@lordoftruth has added 0.321 STEEM of bounty on this post!
Congratulations to the following winner(s) of the bounty!
Find more bounties here and become a bounty hunter.
Find more bounties here and become a bounty hunter.
The alts are recovering back hopefully the maintain this gain
This post has received a 5.35 % upvote from @boomerang.
Is this a deja vu? or it's diferent from the othe? XD