Time: 8.45 A.M. / GM+2 / 21th Aug 2018 – Tues. ### Recapitulation - **Every Consecutive Fall** of bitcoin markets in 2018, was followed by a very weak recovery. This is in stark contrast to 2017, during which every fall was followed by a **/ V /** shaped recovery. - **Total Market Capitalization** of cryptocurrencies is hovering close to the $215 billion mark, after having dipped below $190 billion on August 14. ### Market Factors - **Worsening Trade Tensions** could even lead to a return in risk aversion and dollar weakness, which might revive demand for bitcoin. - **Escalating Troubles** in Turkey could also boost bitcoin demand as people look for an alternative store of value. - **Next Trigger** is most likely to be U.S. Securities & Exchange Commission (SEC) decision regarding bitcoin exchange traded funds / ETF / ! - If a new **ETF Proposal** gets rejected again, we might witness another downward move, and if an ETF proposal is approved, bitcoin markes will jump higher. ### Technical - In our previous post / 679 / we had forecast the trading range will be between **6.039K & 6.680K.** The intraday low was **6.230K** and the high was **6.510K.** - Conform **4H Chart**, we mostly expect downside action to 6.100K area, as bitcoin price trade with clear negativity supported by RSI to move away from EMA50. ![11.jpeg](https://cdn.steemitimages.com/DQmW3QoHwMhVjnXYBmAWkGV2yVU5UoTCPPtSrCKkfeeWJog/11.jpeg) - Conform **1H Chart**, the bears have repeatedly pushed prices down from the 6.650K level, and we still believe **6.100K- 6.160K Zone** will be **The Crucial Area**, as if bitcoin price drop back below 6.100K, this will increase chances on further drop, while holding above 6.100K could trigger **Stronger Upside Action !** ![12.png](https://cdn.steemitimages.com/DQmbKj9GsYxsQwTaW2vmpHKkKsPiC19NsamubLAX72bNmyL/12.png) ### Sentiment The trend is **Bearish** as long as prices are between current spot prices and 6.680K. Support 1: 6100.000 level. Resistance1 : 6680.00 level. Support 2: 5782.000 level. Resistance2 : 6964.000 level. Expected trading for today: is between 5782.00 and 6680.00. Expected trend for today : Bearish. Medium Term: Neutral. Long Term: Bullish. The low of 2018: 5782.00 / Fundamental Barrier / Done. 5350.00 / New Low / Expected! The high of 2018: 11700.00 / Expected! The low of 2019: 6600.00 / Expected! The high of 2019: 25000.00 / Expected! Writing a series means playing a long game, investing considerable time and effort up front in hopes of considerable returns down the road. **If you believe, that our little blog is useful for you, consider purchasing us a box of beer to BTC Address: 3AmNtmR5F9RkACUyec9wTy2a1EP6B54t66** ![www.jpg](https://steemitimages.com/DQmaJ6vyejgpyzTzEaqenx8FCuRcPERb1VJY7rHhXgRG1g4/www.jpg) YOU SHOULD NOT TAKE ANY MATERIAL POSTED ON THIS BLOG AS RECOMMENDATIONS. TO BUY OR SELL BITCOIN OR ANY OTHER INVESTMENT VEHICLE LISTED. **If You are New in Trading --> Read Trading Education Center / Volume I.** **What You Know About --> Fibonacci Retracement in Trending Market.** **If You Like To Read About Syrian War --> Click Here!** ![5000.gif](https://steemitimages.com/DQmTL9L2WbgD7u4WTUjxVJTQVM4p3A4M63wGVmfmomBVTy2/5000.gif)