Time: 9.44 A.M. / GM+2 / 29th Aug  2018 –Wed.

### <center>Recapitulation</center>

-  Bitcoin price resumed the positive trading and  tested 7.127K, supported by EMA50 that try to push the price towards  7.188K / 50% Fib and 7.285K inside the **Bullish Channel** that appears on below 4H chart.

- Bitcoin price could be due for a **Pullback** from its ongoing climb **Below 7.285K** to the channel bottom, as the price action doesn't look like real reversal !

### <center>Market Factors</center>

- A pickup in risk-taking being pinned on the **US-Mexico** trade deal could be one of the factors propping bitcoin price up. Traders seem to have renewed their appetite for cryptocurrencies as a result !

- Data from the **CFTC** revealed a decline in bearish bitcoin bets, leading traders to renew expectations for a strong rebound until the end of the year. Traders are awaiting the SEC decision on a number of bitcoin ETF applications.

### <center>Technical</center>

-  In our previous post  <a href="https://steemit.com/bitcoin/@lordoftruth/bitcoin-trend-series-ep-685-price-action-doesn-t-look-like-real-reversal">/ 685 /</a> we had forecast the trading range will be between **6.519K & 7.285K.** The intraday low  was **6.886K** and the high was **7.127K.**

- Bitcoin price rallied upwards strongly to **Test 7.127K** as expected and settles now above 7.000K, to signal that further gains **Towards 7.188K 
& 7.285K** are in the cards, before any new attempt to decline, as 
we still think that  bitcoin price is still on a tear and another leg down most likely will take place around the top of the bullish channel !

-  **RSI** signal that sellers have the upper hand, **Stochastic** signal that sellers are in control, and **Oscillator** has a bit of room to head south.

<center>![11.jpeg](https://cdn.steemitimages.com/DQmSqFqNXFXWSnGh6ej76wUuh7BpFxU6XAeHCzeZGCgd8vz/11.jpeg)</center>

### <center>Sentiment</center>
<center>The trend is **Slighty Bullish,**
 unless breaking 6.519K  and holding below it  !</center>

Support 1: 6880.000 level.
Resistance1 : 7188.00 level. 

Support 2: 6519.000 level.
Resistance2 : 7285.000 level.

Expected trading for today:
is between 6519.00 and 7285.00.

Expected trend for today :  
Slighty Bullish.

Medium Term:
Neutral.

Long Term:
Bullish.

The low of 2018:
 5782.00 / Fundamental Barrier / Done.

The high of 2018:
11700.00 / Expected!

The low of 2019: 
6600.00 / Expected!

The high of 2019:
25000.00 / Expected!

<center>Writing a series means playing a long game,
investing considerable time and effort up front in
hopes of considerable returns down the road. </center>

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