Time: 8.08 A.M. / GM+2 / 3rd Apr, 2018 – Tues.
Cryptocurrency struggled during the first quarter of 2018, with the capitalization of all combined cryptomarkets falling 59% since January, according to Coinmarketcap. But bitcoin is attempting to switch to a recovery mode on Monday after a major sell-off during the last week, as the current bearish trend starts to signal some signs of exhaustion and may come to an end in the nearest future.
In our previous post / 550 / we had forecast the trading range will be between 6.60K and 8.18K. The intraday high was 7.31K, and the low was 6.84K.
And as our last forecast:
"The next 48 hours, the price may correct higher towards 7.49K - 8.18K"A few bullish in play and another Possible Rise In Bearish Market towards 7.49K followed by 8.18K supported by MACD is expected.
- We still suggest the bearish trend domination, unless the price managed to breach 8.18K and hold above it. However, technically, bitcoin price is ready for a corrective rebound and managed to hold above the the turning point at 6.38K as we said in our post / 549 /.
"..BTC will stand up after it died on death cross and on the 2nd easter day will found the turning point."
So I still believe a break to the next traget at 7.49K is expected followed by 8.18K, where might face sellers at this level.
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.
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.
