Second atypical Saturday that Bitcoin, and other correlated cryptos, has used to since the beginning of 2021. Second and consecutive. It no longer runs rampant to the upside.
Is something changing in the crypto world? Well, at the moment the trend in the Short Term, from bullish to bearish. And we will see the medium term …
Since our last report published last Thursday there was a sharp drop, of which we warned again, in the prices of the world of cryptocurrencies: Bitcoin losing $ 30K and reaching $ 28.8K … from where there was a good rebound that it is losing strength in the last 24 hours.
At this time (8:10 p.m. Spanish), writing this report we now wonder what while the BTCUSD is trading for the undecided $ 32,250.
Here are our indicators, as well as those of other analysts, for the probable future prediction of the trend of the most prominent cryptocurrencies …
Advance charts valid for Bitcoin and other currencies that maintain a high correlation with this mother cryptocurrency …
A- Medium Term (Weekly)
At no time has the brown line been cut below: not even when BTC lost $ 30K on Thursday night… Was it that he expected the rebound? But there it is: threatening.
We are bullish as long as the brown line above lasts and that it does not give way or make a threat of heading … if so, if there is a significant change, the one who subscribes here, usually leaves updates of this indicator in its Twitter… And will report on it.
B- Long Term
Totally Bullish, but totally indicates a Lateral for the Long Term: not a bad thing, because if it were to be lost, as is already being published there, up to -60% as a correction may not lose this trend (technically) of « Long-term bullish », guaranteeing recovery.
Less likely to vary than the previous graph / indicator. But this time it has undergone a significant change.
In the Swiss market, the current positions open by large investors are as follows …
Watch out for this: Already in the previous publication we realized this good news: when the green band passed above 60%. Hope color … that Bitcoin will recover no matter how much or little it falls: because the big ones are positioning themselves to take cheap positions.
For there to be solvent purchases, of those around $ 50K, this indicator of real purchases through the Swiss market should be at 67% or higher.
Note: We must bear in mind that for there to be a permanent downward turn or serious debacle type: the green bar would have to be close to 25%.
This purchase value can be followed in real time in the last link posted at the end of this report.
Also, leading analysts, believe and maintain that the lowest price for Bitcoin for the future will be (at least) in the 28,148 USD.
And the highest price predicted by the same experts? It would be up to 41,358 USD …
Astronomical targets (and less) continue to be published for Bitcoin. We remain cautious and prefer to refer to the previous two paragraphs. We go little by little.
For Trading we take into account the following fees as supports and resistances:
Pivot Point: 31,971
And now a look at the always-often “Fear” indicator:
Almost the same since Thursday: confidence does not increase, even yields 1 point, among participants in Bitcoin.
Let’s review other Cryptocurrencies and what other leading analysts predict about them:
Ethereum (ETHUSD): Its price at the moment is close to $ 1,260.
More or less they are correct. Expect the price to recover shortly.
For Trading suggest:
Pivot Point: 1,186
For the lowest price they predict: 1,121 USD. And the highest price: 1,724 USD.
Binance (BNB / USD): Its price at this time for 41.01.
Are you ahead of the prediction? That is what it is about, of course; but maybe a little more. The case that resembles it. And, from what we can see in their graph, they expect purchases in a sawtooth way and in a very fought way.
For Trading they suggest the following values to take into account:
Pivot Point: 39.73
For the lowest price they predict: 38.14 USD. And the highest price: 47.22 USD.
Our guest cryptocurrency this week is Chainlink (LINK / USD): Very in his own way (little correlated with Bitcoin) especially these last 24 hours.
Its price at the moment of writing this report is for US $ 24.95.
The gentlemen of WalletInvestor.com maintain high success. And they wait for a paradilla to go to look for more points. We will see.
For Trading they suggest:
Pivot Point: 20.49
For the lowest price they predict: 22.94 USD. And the highest price: 32.57 USD.
In general terms, and focusing on Bitcoin, if we pay attention to our graphs / indicators (sections A and B), the trend is very indecisive: especially for graph A … All hanging by a thread? You will not have to lose sight of it.
On the Infallible indicator, on Thursday, after publishing our previous report, it reached 41.60% and we saw what happened. On weekends it does not update, but yesterday Friday it closed with 34.60% … it is still (although less) high to be good for Bitcoin.
For the shopping area the Infallible would have to go down to 25-26%… it works inversely to the price of BTC.
Much, much caution, and our best wishes for your Trading and / or investments.
The author reserves the right to reveal what graphic and indicator material he uses. Just note that Moving Averages are used: although it may not be based on the Bitcoin instrument, although it does serve to predict its trend.
You can follow automated analysis (Real Time) of cryptocurrencies here.