Time: 8.17 A.M. / GM+2 / 11th May 2018 – Fri.
1757 cryptocurrencies are listed at Coin Ranking and 39 of them have a market cap of $1 billion. The growing investment in new ventures is diversifying the crypto world and allowing the exploration of various benefits presented by the blockchain technology.
Bitcoin is not an ideal investment on 2018 / BitcoinTrader's Year / as people are looking forward to other cryptocurrencies which have lower value and more useful as compared to Bitcoin. But most likely trajectory of future mining infrastructure growth should underpin bitcoin price appreciation into the end of 2019 / Bitcoin Holder's Year /.
Bitcoin wasn’t off to a strong start for the week as it was dragged down by profit-taking and remarks from Warren Buffet. However, a few positive developments were still reported, such as ICE’s plans to create a bitcoin exchange.
In our previous post / 588 / we had forecast the trading range will be between 8.573K and 9.676K. The intraday high was 9.393K and the low was 8.870K.
Bitcoin price seems to be caving to bearish pressure since yesterday to approach form our first target at 8.832K, suppored by Stochastic and Oscillator that suggest the continuation of selling pressure towards Fib extension 78.6% level at 8.573K followed by the full extension located at 8.367K.
A deep retracement, is expected and most likely the / Retracement will be on Waves / towards: 8.832K / 8.573K / 8.367K / 7.770K.
...No Change...
We suggest / The Bearish Trend / for today.
Support 1: 8573.000 level.
Resistance1 : 9421.00 level.
Support 2: 8367.000 level.
Resistance2 : 9767.000 level.
Expected trading for today:
is between 8573.00 and 9767.000.
Expected trend for today :
Bearish.
Medium Term:
Neutral.
Long Term:
Bullish.
The low of 2018:
5947.00.
The high of 2018 (BitcoinTrader's Year):
16046.00 / Expected.
The high of 2019 (Bitcoin Holder's Year):
25000.00 level / Expected.
/ Project by @knircky & @famunger /
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