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Bitcoin Struggling to Break Higher

The bitcoin downtrend still remains valid as price continues to produce lower lows and lower highs. Since 25th of July, BTC has lost over 30% to the US Dollar, while price moved from the $8500 down to the recent low at $5850 area.

At the same time strong resistance has been formed at $6500, which is confirmed by the 361.8% Fibs applied to the corrective wave up after the uptrend trendline breakout. The support is seen at $6000, which at first glance seems to be broken, although daily close stays above this key level.

Currently it would be important to watch two levels, first is a $6k support and second is the $6.5k resistance. If the resistance is broken, together with the 200 Moving Average and the downtrend trendline, it could be a strong signal of a potential trend reversal, resulting in a growth towards the $10k psychological resistance. But there will be a daily close below the recent low at $5850, the downtrend is very likely to continue, at least towards the next support at $5500.

There are multiple scenarios of the price development in the coming days, but as has been mentioned already, key support and resistance levels should be watched very closely.

Source: http://cryptopost.com/bitcoin-struggling-to-break-higher/
Telegram channel: https://t.me/cryptopost

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Bitcoin Bullish and Bearish Scenarios

Since the 14th of August, when price tested the low at $5858, Bitcoin has established an uptrend, that can be confirmed by the higher highs and higher lows. The strong support has been established at $6256, which has been rejected multiple times, with the most recent bounce occurred on the 23rd of August.

Yet, clear indecision is dominating, considering the fact that price broke first above the triangle patter and then below it. Nevertheless the 61.8% Fibonacci support has been rejected, and bullish scenario at this point is more favorable.

Recently strong resistance at $6500 has been broken, which today has acted as the support. Therefore, while BTC/USD is above this support, buyers could start to take more and more action, pushing price higher, perhaps towards the strong psychological resistance at $10k area.

On the downside, if Bitcoin breaks below the $6500 level, and then below the triangle patter once again, ten price is likely to test $6256 support, and potentially go even lower. At this stage bullish scenario should be invalidated and either a downtrend or a consolidation might be the case.

Source: http://cryptopost.com/bitcoin-bullish-and-bearish-scenarios/
Telegram channel: Bitcoin Bullish and Bearish Scenarios

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AdEx VS Bitcoin – Time for a Trend Reversal?

Since the beginning of January AdEx has been loosing in value against the Bitcoin. Price has decline from 25k satoshis down to the recent low at 2.5k satoshis, resulting in a x10 time price drop, which is a 90% loss.

On the 15th of August, when ADX/BTC hast reached the bottom at 2.5k satoshis, AdEx has tested the lower trendline of two descending channels, which were rejected simultaneously. The interesting moment is that new Fibonacci Time Zone cycle has just started, exactly at the date when ADX reached the recent low.

It is very likely, that if current low will hold, AdEx could be on its way to establish a long term uptrend, or a strong corrective move north at the very least. Price is expected to reach strong resistance that is seen at 13.7k satoshis area, confirmed by 76.4% and 50% Fibonacci retracement levels.

The upside target also corresponds to the uptrend trendline and the next Fibonacci time zone cycle, which will start on the 12th of January 2019. Therefore, the upside potential is 450% with the time horizon of 5 months.

But at the same time price could reach the upside target earlier, that could be the confirmation of a strong bullish move up until the January 2019. Price could reach and surpass the previous all-time high, established back in August 2017, when price almost reached 60k satoshis.

Source: http://cryptopost.com/adex-vs-bitcoin-time-for-a-trend-reversal/

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On ‎7‎/‎10‎/‎2017 at 2:42 PM, CryptoPost said:

Dear friends, 

I would like to start this thread to share my daily view on crypto markets, providing you with news, reviews, updates, educational materials and technical analysis.
Hope it will be beneficial for everyone from beginner investors to experienced traders.

Where could i start learning basics of  trading? :)

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On 7/10/2017 at 7:42 PM, CryptoPost said:

Dear friends, 

I would like to start this thread to share my daily view on crypto markets, providing you with news, reviews, updates, educational materials and technical analysis.
Hope it will be beneficial for everyone from beginner investors to experienced traders.

Our team of investors successfully made a 233% profit by performing leveraged trading of ETH to purchase QNT, a low-cap altcoin that we were able to pump up over 100% in one week. This team plans to do the same by leveraging BTC and ETH volatility while making massive buys of a small altcoin in the CoinExchange.io platform.- t.me/iblockchainglobal
 

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