bitcoin movement update today. First one is by my secret weapon trader Mr. I he is extremely accurate, and second one is by my TA team — they both agree on some fundamentals:
I decided to give it to the free group after slight delay for premiums because I was always here for the crypto community and these times are important for crypto. Today is pretty big day.
BTC update 23rd May, 2018 By Mr. I
The BTC seems to be in critical situation right now....seems like bulls have admitted defeat for now and they cant be spotted on the field anywhere.
This is where it gets more interesting so here are the Scenarios i expect BTC to play out:-
1)THE TENDENCE IS STRONG DOWN RIGHT NOW (Slamming all lower TF RSI to the ground)
2)The Hope to see a bounce around 7814 is the good chance for the bulls to prove they exist......The bounce to 7907 will be the first inclination ...then if we stablise to this level The targets will be 8049( breach of 8049 would take us to 8220 ish where i expect the real fight for dominance the chances are the price will be rejected from that point ie:-8220)
3)Now the slide all the way down if we are not able to hold this level of 7800 ....should expect a steep fall to 7490 there on we have a slight chance to stop for a while....But...remember we have a pending long squeeze so the dip might take us straight to 7200 where the bulls have a ground to make a reversal but this will also be a most likely a bearsih term incoming so expect another lower highs and lower lows and we can make a new LOW in coming days....but thats an analysis i will leave for later after watching new developments
From trader Mr. L:
The Bulls are just nowhere to be seen right now, and the sentiment of the market is all over the place. With fear being injected because of a continous short term downtrend, it is hard for the average trader to keep calm in these situations. We are going to zoom out here and take a look at the day chart.
We Have a big uptred from these points:
2017-07-16 AT 1873USD
2017-09-14 AT 2978USD
2018-04-01 AT 6440USD
This gives us a support at 7500-7700 Levels in present dates. These price are also Supports on the fibonnaci ratios and recent resistance that got broken. We are sure however that the bulls at 7800 are still not here yet.
If 7500-7700 gets broken we are likely going to see 6900-7100. This is not to spread fear in the market but to open your eyes and be realistic. I still believe we will see at least 10,800 USD after this short term correction is over.
Supports: 7500-7700, 6900-7100
Enjoy it guys..
Secret Bitcoin Update — this can't be given to you by anyone — it's probably the most advanced...
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