After several days of a boring side of the BTC, it has overcome the psychological barrier of 8k, passing the trend of the short-term Bitcoin to bullish. Below my analysis of the day.
We published yesterday, according to the little black sign below, about 15:15 Spanish time. Although the analysis was written one hour and a little earlier … Saying that it would be Bullish but running out (Lateral-Lurch) although we gave it a + 60% buying probability and it was not fulfilled until a few hours ago, from dawn (4 hours Spanish) which started to take off the Bitcoin price.
Most of the time of the previous day was kept as we said (Lateral-slightly Bullish) and as can be seen in the 1-day chart.
You can also see the decline announced near the close of Wall Street, between 21:05 and 22:05. Spanish.
Today we are full of positivity, at this time of writing this article: 1:35 pm. Spanish. But we ask and headline: Will Bitcoin’s trend continue to be bullish?
Let’s see, next, our analysis what it tells us …
Analysis of the Bitcoin trend in the short term (1 to 2 days)
And on the sixth day marking Bullish … THE BITCOIN TREND RISEN.
Our CryptoTrend Indicator in INTRADÍA:
Support the Bullish possibility for the next few hours: + 70% | -30% … Sales are not ruled out near the Close of Wall Street, as in previous days.
Analysis of the BTC trend in the medium term
The trend is also Bullish in the Medium Term. Eighth day. Brown line above, as appropriate, and a somewhat larger opening than yesterday. Total reconfirmation.
Analysis of BTC long-term trend
The Downward Trend is maintained from March 5 for the Long Term (both lines are open, with the brown line below). And it narrows a little more, as it should correspond as read in the previous sections. Will the Bitcoin scenario, including Long Term, become totally Bullish? Aim, for the moment … And for days he has not stopped doing it.
To cross the brown line above … The trend of Bitcoin would become HIGH, and the objective could be estimated towards the 10,000 (minimum) of BTCUSD.
Conclusion and Possible Trading Strategy
We maintain the uptrend for today. We will look for the BTCUSD target: at $ 8,300; to reach them, it may not go beyond that.
The Medium Term is still in Bullish, excellent signal. Consolidating more and more.
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 maintain some caution 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. Maximum caution!
Will Bitcoin’s uptrend continue? Don’t miss my report tomorrow.
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.