Bitcoin Trend Series / EP. 676 / Mixed Signals
bitcoin·@lordoftruth·
0.000 HBDBitcoin Trend Series / EP. 676 / Mixed Signals
Time: 8.35 A.M. / GM+2 / 17th Aug 2018 – Fri. ### <center>Recapitulatin</center> - **Technically** our major weekly target stands at 4.444K, the butterfly target, that we've mentioned in our post <a href="https://steemit.com/bitcoin/@lordoftruth/bitcoin-trend-series-ep-648-weekly-setups-stands-the-same">/ 648 /</a> ! - **Fundamentally**, we've estimated that **Bitcoin Breakeven Mining Expense** stands between 5300$/BTC and 5800$/BTC, in our post <a href="https://steemit.com/bitcoin/@lordoftruth/bitcoin-trend-series-ep-653-mining-break-even-price">/ 653 /</a> ! <center></center> - **Fundamental Background** remains the main driver for bitcoin market, the reason why we believe that bitcoin price will be **Difficult To Test 4.444K**, that we've suggested in the above weekly chart ! - **Technically Breaking 5.782K**, will move bitcoin price to test 5.350K **( New Bottom )** as on the below daily chart ! <center></center> ### <center>Market Factors</center> - Bitcoin price is attempting to recover lost ground long-term support levels continue to be defended by bulls. An improvement in risk sentiment, stemming from the prospect of **US - China** trade talks next week is also propping up cryptocurrencies. Then again, some say that this is just a short-squeeze from the earlier drops. ### <center>Technical</center> - In our previous post <a href="https://steemit.com/bitcoin/@lordoftruth/bitcoin-trend-series-ep-675-the-situation-looks-ambiguous">/ 675 /</a> we had forecast the trading range will be between **5.872K & 6.680K.** The intraday low was **6.232K** and the high was **6.522K.** - Bitcoin price fluctuates around **EMA50**, which forms good negative pressure against the price’s positive bull attempts. - **4H Chart** show currently, the bulls is likely to face resistance around the **Zone 6.650K - 6.680K**, where the bears try to defend the downtrend line and the moving averages. - Technical indicators are reflecting mixed signals, as **Stochastic** provide a negative signals, **RSI** show that buyers are taking control, but **Oscillator** could bring selling pressure. - **Failure To Beat 6.680K** targets 6.039K and we doubt this will hold on the next test as further losses targets 5.782K and 5.350K, most likely ! - **Note; Breaking 6.039K** will move the price again to test 5.872K, and breaking 5.872K will extend the losses to 5300K-5.500K **( Most Likely 5.350K ) !** - **Note; Breaching 6.680K.00** and holding above it will stop the expected decline. <center></center> ### <center>Sentiment</center> <center>The trend is **Bearish** as long as prices are between current spot prices and 6.680K.</center> Support 1: 6039.000 level. Resistance1 : 6680.00 level. Support 2: 5872.000 level. Resistance2 : 6964.000 level. Expected trading for today: is between 5782.00 and 6680.00. Expected trend for today : Bearish. Medium Term: Neutral. Long Term: Bullish. The low of 2018: 5782.00 / Fundamental Barrier / Done. 5350.00 / New Low / Expected! The high of 2018: 11700.00 / Expected! The low of 2019: 6600.00 / Expected! The high of 2019: 25000.00 / Expected! <center>YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED. </center> <center></center> <center>Writing a series means playing a long game, 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. </center> <center><a href="https://steemit.com/bitcoin/@lordoftruth/forex-education-center-volume-i"><strong>**If You are New in Trading --> Read Trading Education Center / Volume I.**</strong></a> </center> <center><a href="https://steemit.com/bitcoin/@lordoftruth/fibonacci-retracement-in-trending-market"><strong> **What You Know About --> Fibonacci Retracement in Trending Market.**</strong></a> </center> <center><a href="https://steemit.com/politics/@lordoftruth/what-you-know-about-syrian-civil-war-last-part">**If You Like To Read About Syrian War --> Click Here!**</a></center> <center></center>
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