4 days have passed since the halving, and the price of Bitcoin is still struggling to break the precious $ 10,000 mark. Will he be able to conquer it in the short term? That will be the subject of my analysis today.
Yesterday we said: “Bullish chance for the next few hours: + 60% | -40% … On the other hand, we have noticed some exhaustion or some outflow of money from other indicators (or a small projection of the flow of money from the whales, it is a Indicator that we use as a test) that shows us that the $ 10,000 from Back to this level would be insurmountable for today and … For now.
And we see in the graph in one day that how it was and how the hours passed, there was exhaustion. He didn’t play 10K anymore, as we warned.
This morning, Spanish time, major falls … More relaxation and little else. And if we continue at 1:35 p.m. Spanish time, it’s time to write this article.
Bitcoin’s price: will we get the $ 10,000 back?
We go to our analysis and we see it …
Bitcoin price analysis short-term (1 to 2 days)
Still upward in the short term, but hardly. We observe the reverse elbow, which led to the BTCUSD price falling at dawn (first graphic), and little else: parallel lines = lateral stroke.
Fearless indecisiveness for the hikes in these moments.
Our CryptoTrend indicator in INTRADÍA::
Bullish possibility for the next few hours: + 52% | -48% … Possible winger with subtleties when shopping, but … We don’t have much confidence in the rises, as is generally said, or so we hope for the next few hours.
So we answer our owner: NO … For today. Bitcoin cannot exceed $ 10,000. and maybe it doesn’t get too close either.
Analysis of the BTC price in the medium term
We are continuing our upward trend in the medium term. It reversed the bearish turn two days ago and remains the intent to buy. But at the moment, today, it seems that it has no effect. Let us hope that there is no downward trend … We think that this should not be the case.
Long-term BTC price analysis
It’s been bullish since last Friday and it’s tightening.
The usual note to note: To cross the brown line above … The trend would be HIGH and the target could be estimated at $ 10,000 (minimum) BTCUSD.
Conclusion and possible trading strategy
- We are (still) in an upward trend today … or rather a slight upward trend. Volatility is expected.
- In the medium term it is still bullish, we have confidence in the 10 km again and that it will probably surpass it … in the near future. Long-term bullish tenure allows us to say that in the medium term, should not switch to bearish. Between what has been said and the little bearish force for today … Well, things should remain in correction, if any, and wait for the return towards $ 10,000 in the coming days.
- Possible strategy: Sell at rebounds, if available … And if our broker’s spread allows us: We will get some points …
General scenario / market timing (long-term)
We are lucky and hope and trust that shopping will continue. Are we going to see the $ 12,000? Probably, if nothing changes in the medium and long term, but not for today, not even the possibility to exceed 10,000. It is what we have and it is what there is … Right now.
We have to wait for a defined action. To know whether from this weekend or … that is – to know.
Watch out. Everything can be turned around in the medium / long term by the global pandemic. We have to follow our analyzes very closely …
The author reserves the right to specify which chart and indicator material he uses. Just caution that moving averages are used: although it might not be based on the Bitcoin instrument, although it is used to predict its trend.
I invite you to read my commentary on ‘The Market’ in general (Forex, Stock Market) for today and in the medium term on EuroPost.info. You can also follow the automated (real-time) analysis of cryptocurrencies HERE.
The information in this content should only be used for educational purposes and is in no way intended to promote the purchase / sale of financial instruments.