Time: 8.30 A.M. / GM+2 / 20 Apr 2018 – Fri.
Bitcoin price shows calm bullish to approach 8.64K and till this moment, the bullish wave was not able to clear this resistance for further advance towards 9.12K, due to Taking Profit Activity around 8.40K.
Most markets give us an indication as to whether or not investors are willing to take on more risk:
Stock Traders look at CBOE Volatility Index (VIX), and fixed-income traders will look at the spread between high yield and U.S. Treasurys.
In crypto markets, most common "risk on/risk off " indicator is the ETH/BTC spread. The recent rise in this spread might be a good things to come for crypto investors.
The cryptocurrency space and lingering geopolitical risks have kept bitcoin price supported.
Investors will reopen their long positions but most of
"Buyers could be waiting to join in on a pullback."
Based on the above we still suggest the bullish trend!
In our previous post / 567 / we had forecast the trading range will be between 7.55K and 8.64K. The intraday high was 8.38K and the low was 8.10K.
Very volatile trading on a daily basis with candles repeatedly cancelling each other out. But we still believe as our previous posts, the price will face big difficulty to clear the monster resistance at 8.64K.
It is so hard to predict the next move, as the trend is slighty bullish and in the same time there are a small bearish risks ( pullback ) for Bitcoin, while its longer-term prospects look more constructive.
No change!
Based on the above a pull back to the pivot 7.55K might be on the cards, and the price might also test 7.24K ( Short term target 6.95K - 7.38K ) before the continutaion of the bull run.
The trend is slighty bullish as long as we are above 7.24K, while it seems as though 6.49K is going to hold in the long run for the majority of 2018.
Support 1: 7550.000 level.
Resistance1 : 8640.000 level.
Support 2: 7240.000 level.
Resistance2 : 9122.000 level.
Expected trading for today:
is between 7550.00 and 8640.00.
Expected trend for today :
Slighty Bullish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5947.00.
The high of 2018 (BitcoinTrader's Year):
13660.00 level / Expected.
The high of 2019 (Bitcoin Holder's Year):
25000.00 level / Expected.
/ Project by @knircky & @famunger /
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