Bitcoin price succeeded to touch our
main waited target at 1090.00 and stops there, as this level represents
the long term bullish channel's resistance, which might form negative
pressure on the upcoming trading and push the price to decline according
to the trading rules inside the channels, especially that stochastic
shows overbought signals.
On the other hand, the EMA50 provides
continuous positive support to the price, which might assist to push the
price to breach the above mentioned resistance and extend the bullish
wave on the short term and medium term basis, as the next target is
located at 1110.00.
Therefore, we prefer staying aside
temporarily in order to monitor the price behavior according to the key
levels represented by 1065.00 support and 1090.00 resistance, as the
price needs to breach one of them to detect its next destination
clearly, noting that breaking the mentioned support will push the price
to decline towards areas that start at 990.00 and extend to 930.00
mainly.
Expected trading range for today is between 1000.00 support and 1110.00 resistance
Expected trend for today: Depends on the above mentioned levels
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Official W3Coins Representative in East Europe & Middle East
samer@w3coins.com
+40 734 277 757
Official W3Coins Representative in East Europe & Middle East
samer@w3coins.com
+40 734 277 757
- YOU WILL NEVER TRADE ALONE -
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL BITCOIN, GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL BITCOIN, GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
