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Bitcoin Price Insists Bullish

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At the time of writing, the price of Bitcoin jumps to $ 9,300, close to the intermediate resistance of $ 9,500. Next in my daily analysis I will try to “decipher” where the trend is going in the short, medium and long term.

Bitcoin price chart shows bullish in recent hours

Appearances are deceiving, and more in this type of scenario so volatile on various open fronts: pandemic, global crisis and Halving a few days in Bitcoin.

Yesterday we opted for Sales, even when the Short Term (Intraday) is trending upward; and he stuck his tongue out at us, as we will see in the graph in the next section, and the uptrend resumed. These things happen, hence having to spin very fine, and that’s what we’re at.

But the general tone of our vision is fulfilled, the one we have maintained for days – at least for now -: shopping UNTIL Halving. Bitcoin does not fall, it does not stop escalating little by little and it has its buyer spasms … As the one happened a little less than 1 hour ago to write this report at this time at 1:50 PM Spanish time.

The price of Bitcoin insists bullish … There is no doubt.

Then, let’s see it in the following analysis …

Bitcoin price analysis in the short term (1 to 2 days)

Analysis of the BTC price trend in the short term
Analysis of the BTC price trend in the short term

See the parallel of lines of pure rubbing to return to the bullish path (never lost), which we have previously referred to as pure ‘tongue-twister’; quite a mockery. Although we said yesterday, in this same section, that “it seems that we will continue playing clueless a little more” … And well he did it to us.

Our CryptoTrend Indicator in INTRADÍA:

Bullish possibility, although with a hint of braking in the making, for the next few hours: + 55% | -Four. Five% … SALES are not ruled out near the Wall Street Closure.

Analysis of the price of BTC in the medium term

Analysis of the BTC price trend in the medium term
Analysis of the BTC price trend in the medium term

The Bullish trend continues in the Medium Term: 13 days, now. And it does not close, it holds perfectly. Excellent sign of moment.

Long-term BTC price analysis

Analysis of long-term BTC price trend

The Downward Trend has been maintained since last month for the Long Term (both lines are open, with the brown line below). And the lines are very narrow, although for how close we are to Halving … It does not cross the Bullish trend: that is good because it supports purchases but suspicious so that there is confirmation of a continuity in the Hikes. Very suspicious at this time.

Conclusion and Possible Trading Strategy

  • The price of Bitcoin maintains the upward trend today (still) … But with possible slowdown, it may go towards $ 9,400 of BTCUSD: above today’s maximum … At this time of writing these lines.
  • The Medium Term still continues in Bullish, wonderful signal. It is maintained and, therefore, SOS has the Bitcoin price.
  • And the same as always: 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 should remain very cautious for long-term investments based on HOLD (buy and wait). Due to lack of confidence in European countries: possible second wave of infections in a few weeks; although they have started with the population leaving with limitations … They are also extending the state of confinement or alarm: so there should be no excessive danger.

We continue to believe that before Halving the Bitcoin will rise and that it is doing, but for the day after … We opted, as we have been saying for days, that it would not have or will have continuity. We continue to consider this scenario today: Shopping UNTIL Halving Day.

We have no choice but to follow the evolution of the graphs of our analysis daily, to see if it continues to mark this path or we observe something that makes us move away and abandon this theory of limited purchases until the date of the Halving of Bitcoin and have to bet on Fully triggered Bitcoin rises … But fewer and fewer days are missing; Either it manifests itself already (crossing the brown line -of the Long-term trend- above) or this is what we have: a buy in the rumor and sell -the day if not before- of the news.

To cross the brown line above … the trend would become HIGH, and the target could be estimated towards the 10,000 (minimum) of BTCUSD.

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.



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