As we said yesterday, the price of BTC, has been moving for a few days in a narrow range between 9.2k to 9.9k. Will you be able to leave it in today’s session? I will try to answer this Bitcoin riddle in my report today.
Yesterday everything happened, as everyone already knows … And the CryptoTendency colleagues reported well.
It is attributed to a sale of an account close to the initial date of Bitcoin, which is why it is suspected that it was from its creator or from someone very close to it and to the crypto system of the time.
This is not a good thing: not only for cryptocurrencies … but a very significant warning as it would be due to lack of liquidity, at best (and is negative in many respects worldwide); but worse, and specifically, that it smells of something that could appear in the near future totally negative for the cryptosystem in general. Be careful with this!
Our report yesterday did not affect us too much in its daily forecast: only that the little bullish that we gave it lasted just enough and disappeared: Bullish possibility for the next few hours: + 60% | -40% …
You should retest the $ 10,000 BUT… we’ll probably be the same as yesterday: you should NOT pass them. Somehow it was fulfilled, right? And totally … Again without the 10K. But it is true that we expected it to return, to approach that $ 10,000 and that was not and has not been possible so far.
In this regard, during the fright and uncertainty, we published on Twitter a notice of what we had; and above all what was detected to the Whales, and Bitcoin paid attention to us 2 minutes later:
Be that as it may, so it was. He stayed in Lateral, once part of it was recovered, up to a few hours. And later in Lateral-Bearish for now the prices follow in the wake of a slight Laterality inclined to more and more Bearish.
Today we titled: “Bitcoin Riddle: Where is the price of BTC going?”
Totally an enigma by the commented previously. Let’s look at our analysis to see what it tells us and whether we can clear that headline “puzzle …” without having to resuscitate cryptographer Alan Turing.
Analysis of the Bitcoin trend in the short term (1 to 2 days)
There we have the riddle to solve: it turned to a downtrend, but it was that before it had already been crawling and leaving a trail of true confusion in constant volatility. That Lateral: now bullish, now bearish … Between $ 9,300 to $ 10,000, that’s how it has been for the last few days: very indecisive and rare.
But today we are in a rigorous Downtrend for the Short Term, technically speaking.
And now we are going to try to refine with another indicator of ours …
Our CryptoTrend Indicator in INTRADÍA:
We support the downtrend for the next few hours: + 40% | -60% … We will move away from the $ 10,000 a little more.
The good part: We detected by other indicators, that of the flow of money of the Whales, which is very likely to rebound in the $ 9,000… Of reaching these. Discarded who loses them, as we have detected at this time …
Analysis of the BTC price trend in the medium term
Well, obviously, the enigmatic sale of the primitive Bitcoin account affected him; clearly appreciated. Turning down… Although we continue, technically, in the Medium Term Trend as Bullish.
Analysis of the long-term trend of Bitcoin
Tomorrow will be 2 weeks in Bullish. But it no longer draws so definitively. Its projection of Long Term Hikes narrows a bit. Also touched by that enigmatic outflow of money.
The usual notice to keep in mind: To cross the brown line above … The trend would become HIGH, and the target could be estimated towards the 10,000 (minimum) of BTCUSD. This paragraph, set as a warning, makes us hope that all is not lost.
Conclusion and Possible Trading Strategy
We are in a Downtrend … We are saying goodbye to the $ 10,000 for now. And maybe hello to 9K: You shouldn’t lose them and bounce.
The Medium Term Still Bullish but TOUCHED SLIGHTLY, we will have to wait to see if it is decided to follow the narrowing or to open again and indicate a turn towards 10K.
Possible strategy: Buy on the DOWNLOADS if there were any (close to $ 9,000) … And if our broker’s Spread allows us: we will get some points …
General Scenario / Market Timing (Long Term)
Partly almost undone how well the Medium and Long Term were going. TODAY we pay attention to the short-term bearish trend while continuing to look affectionately at the other two (medium and long-term) to expect the support of the $ 9,000 to be strongly resistant.
For HOLD investors: Caution, everything can be rotated in the Medium / Long Term by Pandemic and its already real consequences on the economy, especially in Spain and Italy and much of Europe. These indicators will have to be closely followed …
Tomorrow, in the last report of the week, we will be able to finish elucidating the Bitcoin Enigma in the short term.
The author reserves the right to reveal what chart and indicator material he uses. Just warn that Moving Averages are used: although it could not be based on the Bitcoin instrument, although it does serve to predict its trend.
I invite you to read my comment on ‘The Market’ in general (Forex, Stock Market) for today and in the medium term on EuroPost.info. You can also follow automated (Real Time) analysis of cryptocurrencies HERE.
The information in this content should be taken for educational purposes only, and in no way is it intended to encourage the purchase / sale of financial instruments.