Expected trading for today is between 10000.00 support and 11100.00 resistance
Bitcoin price after the bullish rally to 11400.00 level and
due take-profit orders that was located around this level,
the bearish correction have completed its pullback to 9350.00
allowing the bullish trend to resume.
So What Next!
The price now around 10300.00 and the bullish strength is
enough to push the price up again toward 11100.00 / 50% Fib extension.
Anticipation of CME bitcoin futures that can be launched
before the end of the year bring new investors and this will
push the price to move up.
100 SMA is above 200 SMA so the climb is more likely to
continue than to reverse.
Oscillator in overbought zone to indicate weakening buying pressure.
Stochastic indicate that buyers are eager to push bitcoin price up.
RSI moving higher so bitcoin price might follow suit.
Holding above 9350.00 represents key condition to continue
the expected rise towards 11100.00.
Breaking 9350.00 and hold below it, will stop the bullish wave
and will push the price again to start the bearish correction.
Expected trading for today:
is between 10000.00 support and 11100.00 resistance.
Expected trend for today:
Bullish.
YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED.
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