In the early hours of today, the price of Bitcoin touched US $ 9,500 on the main exchanges. Will BTC be able to maintain this trend in the short term? You will find the answer in my daily analysis.
We published yesterday, according to the small black sign below, at 14:46 Spanish time. Although the analysis was written about 30 minutes before … Saying it would be Bullish and we gave it a + 70% buying probability and it started to be fulfilled quickly; as can be seen in the 1-day chart.
You can also see the decline announced near the close of Wall Street.
Although it is true that we did not give it a higher rise of $ 8,300, and it shot up, during the rest of the day until well into Spanish dawn, to almost $ 9,500. Beastly climb. And we fall “short on the Bitcoin lengths.”
The price of Bitcoin rises sharply while waiting for Halving, that is and was evident.
And the reversed order of “is and was” is not accidental, because at this time of writing this article, 1:35 pm. Spanish, we have a bearish inclination that began from the maximum of the day, already said, reached about 8 o’clock Spanish. And, yes, the price of Bitcoin gives way … With a slight bounce for less than 1 hour.
Let’s see, next, our analysis what awaits us before the Halving that is to come in a few days …
Bitcoin price analysis in the short term (1 to 2 days)
Well that’s what we have. And very graphically speaking on its own. The formation of an elbow, which is the descent started -commented before- from 08:00 Spanish time, And on the sixth day … ROSE, we said yesterday, but today (seventh) it seems that it will take a break, at least, on this great climb the Halving road and leaves us one more doubt: if this road will be resumed. THE TREND OF THE BITCOIN EVEN SO IT IS IN BULL, BUT TURNING.
Our CryptoTrend Indicator in INTRADÍA:
Support the Bullish possibility, very slightly, for the next few hours: + 52% | -48% … Sales are not ruled out near the closing of Wall Street or even earlier.
Analysis of the price of BTC in the medium term
The trend is also Bullish in the Medium Term. Ninth day Brown line above, as appropriate, and a larger opening than yesterday. This is what gives us something to think about, what has been said above, that today’s drop be a correction or pause … Returning to the upward climb, knowing when. Morning?
Long-term BTC price analysis
The Downward Trend has been maintained since last month for the Long Term (both lines are open, with the brown line below). But it narrows even more, as it should correspond as read in the previous section of the Medium Term.
And we keep asking ourselves … Will the Bitcoin scenario, including Long Term, become totally Bullish? But today we question the question, irony worth it: Only until Halving? Because it can also be opened again. We will be very pending.
To cross the brown line above … The trend would become HIGH, and the target could be estimated towards the 10,000 (minimum) of BTCUSD.
Conclusion and Possible Trading Strategy
- We maintain the uptrend for today, but stammering… very doubtful. Watch out.
- The Medium Term is still in Bullish, excellent signal. Consolidates, and gives probability, until it shows the opposite, of new ascents towards the Halving, at least.
- Both for Intraday and for the Medium and Long Term: open Shorts on each raise, if there were any due to volatility, and do not rush the profits … As long as there are these, if our Broker’s Spread allows it. As long as the Long Term trend continues to be Bearish (divergence) … It assures us volatility and declines.
General Scenario / Market Timing (Long Term)
We remain cautious for long-term investments based on HOLD (buy and wait). Due to the delicate situation of the Global Pandemic … There are already countries that are beginning to return to confinement, such as Japan and Germany, and that could take its toll in the coming days.
And, in addition, that the exit from Spain to the street coincides with a probable re-confinement, such as the countries mentioned, with the day of Halving … It would be too coincidental. Maximum caution! Because everything can happen here … And, of course, return to the previous scenario: FALLS … “Buy on the rumor, sell on the news”, after Halving: WHILE WE RETURN TO A SECOND WAVE OF CORONAVIRUSES?
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 is not intended under any circumstances to encourage the purchase / sale of financial instruments.