Bitcoin Daily Forecast - 09 May 2018

Published 05/09/2018, 03:51 AM
Updated 07/09/2023, 06:31 AM

Bitcoin (BTC) Performance Chart

Bitcoin meets 3 month trend line resistance at 9800/9850 and the 200 day moving average at 10100/130 today. I do believe we will resume the bear trend now but stop out of shorts and reverse in to longs if a sustained break above 10250 is seen.

We have already rejected that resistance and headed lower to our targets of 9550/9500 and 9360/30. New levels for today: First resistance at 9440/60 could hold a rally (we topped exactly here on Tuesday) but above here targets 9620/60 before the resistance mentioned above.

First support for at 9140/9110 but longs are risky in the bear trend. A break below the 100 day moving average at 8890/70 is a sell signal targeting minor support at 8650/8600.

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