Time: 8.00 A.M. / GM+2 / 2nd Apr, 2018 – Mon.
- In our previous post / 549 / we had forecast the trading range will be between 6.50K and 7.49K. The intraday high was 7.06K, and the low was 6.43K.
Bitcoin price jumps a bit, then falls a bit. This has become something of a routine over the last days, while nothing huge appears to be happening as the bitcoin resistances seem so strong and the supports are holding. The reason why the price saw a complete reversal after the 12 hours bleed yesterday, regaining much of the day’s losses in a half hour.
We still suggest the bearish trend domination, unless the price managed to breach 8.18K and hold above it. But I believe that bitcoin's price nearing bottom and the low of 2018 at 5.947K will hold.
The next 48 hours, the price may correct higher towards 7.49K - 8.18K, but will face sellers on the upside to move again lower towards 6.60K, as with this volume and indicators most likely will see sideways action.
4 Hours MACD is slowly moving back in the bullish zone and 4-hours RSI is currently moving higher.
Support 1: 6600.00 level.
Resistance1 : 7490.00 level.
Support 2: 5947.00 level.
Resistance2 : 8180.00 level.
Expected trading for today:
is between 6600.00 and 8180.00.
Expected trend for today :
Slighty Bearish.
Medium Term:
Slighty Bearish.
Long Term:
Bullish.
The low of 2018:
5947.00 / IHS Bottom.
The high of 2018 (BitcoinTrader's Year):
14000.00 level / Expected.
The high of 2019 (Bitcoin Holder's Year):
??? The new all time high is expected.
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