Just a week after halving, Bitcoin’s price is continuing its positive trend of around $ 9,700. In today’s report I will analyze the BTC trend in the short, medium and long term as usual.
On Friday we published: “Bullish Possibility for the next few hours: + 52% | -48% … Possible winger with shopping tips, but … We don’t have much confidence in the rises, generally speaking, or we hope for the next few hours. “And that’s what the 5-day chart shows.
The increases were short when we released them, and everything gave way until Friday’s main decline shortly after Wall Street closed: at 10:40 p.m. Spanish who easily lose $ 9,200 the BTCUSD … Check the minimum of these last 3 days.
A carousel throughout the weekend. We highlight the recovery that has been of little use as the price of Bitcoin dropped again a few hours ago.
We warned yesterday via Twitter from a server (@mercadounico) that shopping should continue, but with BRAKE (9:10 p.m. Spanish), and so it was and was: about 4 hours later to stay above $ 9,900 … Without reaching 10,000:
And our headline reads: “The price of Bitcoin starts the week with a positive trend,” true. But we wonder, will there be continuity?
Let’s see it in our analysis …
Bitcoin price trend short-term (1 to 2 days)
If you look, we’ve been going from one trend to another since Friday. The brown line above means bullish. And now, recently, at 1:20 p.m. Spanish – as we write this report – it has lost the upward trend that was exhausted hours ago and is continuing its struggle of the past 72 hours to achieve a defined trend. Indecisiveness according to the graphic due to their behavior: Although the short-term nature is initially rather bearish.
Our CryptoTrend indicator in INTRADÍA::
Bullish possibility, we contradict and clarify the unknown – not shown for other indicators – for the next hours: + 60% | -40% … You have to look for the $ 10,000 again.
BTC price development in the medium term
We are continuing our upward trend in the medium term. It must be maintained if it is as it is: we could exceed 10,000 (hours / days) in the near future.
Long-term BTC price development
It’s been in Bullish for over a week and draws firmer and more openly. Supports the medium-term trend just seen in the previous section.
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 in a downtrend, but we are changing a lot for 3 days … We are betting on a turnaround in the next few hours, as we indicated, and the $ 10,000 will be tested again.
- It’s still bullish in the medium term, we have confidence to conquer this 10K and it could go on. The $ 12,000 medium term (days / week)?
- Possible strategy: Buy from DOWNLOADS, if available … And if our broker’s spread allows us: we will get some points …
General scenario / market timing (long-term)
Almost everything indicates bullish (medium and long-term). The $ 10,000 mark is tough for now. we dare to say that this is not the case today either. But … According to our vision, it will happen sooner rather than later.
Nevertheless: Attention, Everything can be shot in the medium / long term by pandemic and its already real consequences for the economy, especially in Spain and Italy and in large parts of Europe. These indicators must be followed carefully …
Can the Bitcoin price keep up the positive trend in the short term? Let us know in the comment box.
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.