Expected trading for today is between 8000.00 support
and 9400.00 resistance
The negative sentiment over the last week has translated to real weakness in price. The low of Jan 2018 at 9222.00 was broken. Right now, bitcoin is trading more than 50% down on its highs (19700.00 early January).
So What Next!
Bitcoin price now is around 8500.00 / the crash zone/ the trend for today is bearish, supported by the negative pressure formed by the EMA50.
Technical indicators are giving mixed signals, but the price around 8000.00 - 8500.00 range, might attract the big buyers, so a bonus is expected.
RSI ready to pull up and stochastic reach to the oversold areas to suggest a bounce.
Breaching 9400.00 level and hold above it, will push the price towards 10700.00 level.
Breaking 8000.00 level and hold below it, will push the price deeply in the crash zone towards 6800.00 level.
Expected trading for today:
is between 8000.00 support and 9400.00 resistance.
Expected trend for today :
Bearish.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
What You Know About --> Fibonacci Retracement in Trending Market.
