Bitcoin Trend / 09 - 02 - 2018 / BTC Move in Tandem With Stocks & Commodities
The rest of the equation, is all about human psychology.
Expected trading for today is between 6100.00 support and 8600.00 resistance
After many attempts to breach the resistance loctated at 8.6k, bitcoin price start to rebound bearishly and there are big chances to move towards 6.8k due to the negative pressure formed by EMA50, before any new attempt to raise again ( where the buyers will start to push the price towards 8.6k again).
Bitcoin price now is around 7900.00 level and keeps stability below 8600.00 resistance. The trend for today is slighty bearish.
All of us know, the move from 5947.00 ( the low of the year ) to 8600.00, came after a Senate Banking Committee hearing on the regulatory fate of digital currencies was not as negative as many investors had feared, but as the price was not able to breach 8600.00, I expect a correction towards 6800.00 level.
RSI is on the move down, so there is some bearish momentum left.
Note, breaching 8600.00 level and hold above it, will confirm again the bull run towards 9300.00 level.
Note, bitcoin price is moving in tandem with stocks and commodities, which is a different dynamic than in the past. The actual dynamic is not good for us as bitcoin investors, it is good for us as bitcoin traders.
Expected trading for today:
is between 6100.00 support / 76.40% Fib/ and 8600.00 resistance.
Expected trend for today :
Slighty bearish.
Medium Term:
Bullish.
Long Term:
Bullish.
The low of 2018:
5947.00 / Strong Support.
The high of 2018:
25000.00 level.
Interesting! Do you think this is still relevant now with this sudden prices spike?Im starting to wonder if this dip may not quite happen as expected!
It is not sudden spike!
I wrote .. watch 8600.. as breaching 8600.00 level and hold above it, will confirm again the bull run towards 9300.00 level.
Patience .. update coming soon ( need 2 hours)
sorry, i lose my mind when i panic.. i didnt buy though,, so im proud of myself today! Will keep an eye,, and patience yes! thanks a LOt my friend!
No problem my friend.. do not sorry
No call for now ..
The trend is up but is so risky..
Read my update..
We have to wait after 16 feb chinese new year!
Just when im 'supposed' to be on holiday! oh boy!
Very important note!
There seems ro be a global lack of liquidity which is sending nearly all markets to the south. Even gold (as a risk hedging asset) can't perform currently!
At last if the FED and the ECB get into panic they will start printing as much money as needed to stabilize all markets.
I hope that will recover soon his dynamic that was always in past..
The actual dynamic is not good for us as bitcoin investors, it is good for us as bitcoin traders..
Thank you for such helpful information about bitcoin dear friend, I find out the news about bitcoin only from your posts)
Thanks for support..
Wish you a great weekend..
Thank you for pointing out that the outlook is slightly bearing in the short-term. This is very helpful as I have already started buying little by little, and feeling uncertain if I should speed up the purchase. Now, it seems that there is no rush: dollar averaging seems a good option.
That high better be real soon, to be able to shut the mouth of crypto enemies worldwide. Thanks for sharing this information, ive followec to recieve more. Cheers
Well I just ignore them , I m at Crypto Community over 3 years and almost weekly someone is telling me it s going to crash to 0$.
the stocks are playing an role for the first time here damm
slightly bearish that's true but great for long term :D
This is very good informative news about cryptocurrency.Now all currency are very sad condition.
Thanks a lot for such a news.Keep it up
I think we should keep patient. If we want to make some good profit it would be a idea buy some BTC. Cause I believe it's price will goes up.
Dear lordoftruth,
Looks good - agree with your article in many points. Thx for sharing my friend.
Nevertheless, I still think that it is quite likely to reach one more time a lower lvl - the last time for this correction. And after that we will start going bullish again (first new wave of the Elliotts). We will see soon.
Yours truly,
Gandalf The White!