Time: 8.21 A.M. / GM+2 / 2nd May 2018 – Wed.
Bitcoin price has been climbing in April towards 9.767K, as we expected on 24 April in our post / 572 /. But recently run into some resistance around 9K level, where it has been fluctuating, and we expect more volatility in upcoming days.
Based on bitcoin history ( Sell in May and Go Away ) most likely the Bearish wave will continue. But this May will use the upcoming pull back as a buy opportunity. So keep a watchful eye out for opportunities to Buy Mt. Gox Crypto Dip.
Besides the technicals and the overall improving sentiment, the developments in Malta support the market significantly as the island looks set to become one of the world’s most prominent blockchain havens, as the country, will attracts more crypto projects all over the world.
Forcing Bitcoin into the public eye is great for the leading digital currency. For years now, digital currency has been wrongfully associated with cyber crime and nothing more! Being on display so publicly should help shake the connection between dark web drug dealings and digital currency. Unfortunately, despite criminal acts accounting for less than 1% of Bitcoin usage, many members of the public still think that it is only a tool for illegal purposes.
- In our previous post / 579 / we had forecast the trading range will be between 8.350K and 9.384K. The intraday high was 9.099K and the low was 8.818K.
- No Change in our forecast as we still expect that the price will visit the 7.50K - 8.00K ( Early May ) area to build our Inverted Head & Shoulders Pattern, as we wrote in our previous post / 573 / before the continuation of the bull trend towards 12.40K ( Early June ) and only clear break or close above 9.911K will cancel our scenario.
We will continue to suggest the Slighty Bearish Trend Associated Swingy Move for today.
Support 1: 8643.000 level.
Resistance1 : 9384.00 level.
Support 2: 8350.000 level.
Resistance2 : 9767.000 level.
Expected trading for today:
is between 8350.00 and 9384.00.
Expected trend for today :
Slighty Bearish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00.
The high of 2018 (BitcoinTrader's Year):
12407.00 - 13660.00 Area / Expected.
The high of 2019 (Bitcoin Holder's Year):
25000.00 level / Expected.
/ Project by @knircky & @famunger /
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