Bitcoin Trend / 23 - 01 - 2018
Expected trading for today is between 9300.00 support
and 11200.00 resistance
This recent breakdown move represented a failure of continued strength
towards 13000.00 / 50% extension / and the price now is testing critical
support at 10700.00 level / The start of crash zone /.
Volatility continues to be an issue for Bitcoin investors and Bitcoin price again is under the negative pressure due:
- Slowing Transaction Times
- Skyrocketing Fees
- Tighter Rules and Regulations
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So if selling pressure persists, bitcoin price might move towards
9300.00 level / close to 50% extension, supported by the negative
pressure formed by the EMA50.
100 SMA is below 200 SMA so the downside is more likely to continue than to reverse.
RSI indicate that seller have the upper hand.
Stochastic signal that sellers are in control.
France and Germany share a common goal to regulate Bitcoin and both of them will be making a joint proposal to that effect at the upcoming G20 summit in March this year.
Note, Breaching 11200.00 level and hold above it, will cancel the bearish wave and will push the price to resume the bullish trend, as this level is the key to stop the expected decline.
Expected trading for today:
is between 9300.00 support and 11200.00 resistance.
Expected trend for today:
Bearish.
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Excellent technical analysis and i agree with your point that bitcoin is now in crash zone and we might see it going down to 9300 mark, thanks for telling us support and resistance levels it really help me in day trading, Stay blessed
the bear market continue now trading at $10600 , the market are red and it seems like things arent changing much. the restriction on most countries are really hammering on the coin market, the new from south korea affected the market in a negative way
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. at 8:08 am, bitcoin price was $11,904.72 and current price is $10,419
. dropped $1414.72 in 24 hours.
. I think its price will fall further
Wow amazing post..
If BTC would be outlawed how you see the privacy coins react?
Lets wait and see what France and Germany will come up with but you think with this decision over our head we could break a bearish trend?
I hope to see Steem decouple itself from Bitcoin.
wow great post sir France and Germany share a common goal to regulate Bitcoin and both of them will be making a joint proposal to that effect at the upcoming G20 summit in March this year.
forward and to the point, emotionally detached from the market. I really like your analysis. comes across extremely clear headed. thank you.
Firstly am proud my country is really into bitcoin #Nigeria. And from the map,its obvious bitcoin is spreading much and been accepted by various nations and i know in years to come it will be a legal tender and in that scene those that have invested in it will stand a chance to be a millionaire. But sure bitcoin fluctuation havent been encouraging but every crypto currencies got its own lapses and am optimistic about good increase in the value of bitcoin. Thanks for a general view acceptance of bitcoin from the map provided. Share more light on crypticurrencies issues when you got any it will br appreciate