Time: 8.02 A.M. / GM+2 / 7th July 2018 – Sat.
In our previous post / 645 / we had forecast the trading range will be between 6.210K & 6.842K. The intraday low was 6.451K and the high was 6.641K.
Bitcoin price failure to beat the strong resistance located at 6.842K, due to an increased selling pressure around 6.600K, the reason why we believe that bitcoin price could move below 6.400K, while breaking 6210K will lead to the continuation of Harmonic Swings towards 6.039K followed by 5.870K, where further losses will try to target November low at 5.500K before reaching the final target at 4.300K.
We still waiting for bearish continuation unless breaching 6.842K and settling above it. Shorts need stop around 7.200K for an unexpected break higher.
Amsterdam-based speed trader Flow Traders NV, has entered the cryptocurrency market, as reported July 5. The arrival of such giants is a clear indication that the larger players are taking the plunge and these lower levels are unlikely to remain for long.
The trend is Bearish for today.
Support 1: 6210.000 level.
Resistance1 : 6842.00 level.
Support 2: 6.039 level.
Resistance2 : 7000.000 level.
Expected trading for today:
is between 6210.00 and 6842.00.
Expected trend for today :
Bearish.
Medium Term:
Bearish.
Long Term:
Bullish.
The low of 2018:
4267.00 / Expected.
The high of 2018 (BitcoinTrader's Year):
14469.00 / Expected.
The low of 2019: ???
The high of 2019 (Bitcoin Holder's Year):
36000.00 level / Expected.
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