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If you have followed us in our publications, for a few days we have been observing the recovery behavior and we even mentioned that the standard behavior of the market is to return to its MM of 200. We were waiting for Bitcoin to return to the $ 9,000-9,200 zone.
From the heart, I hope you could see the opportunity and seize it. However, there is doubt in many in the community to know if the price will continue to rise, or it is better to take profits, or wait for the market to offer another opportunity.
The truth is that the crypto market always gives opportunities to those who are ready, attentive to detect them and know how to seize the opportunity.
For now, Bitcoin toorn you want lbequeath to experience the US $ 9.000 and if the volume continues with the same intensity and joviality, we could experience peaks of up to US $ 9,600. Of course, the challenge is that it manages to sustain itself, at least, above US $ 9,000.
Let's review today's interest levels, in my new analysis to Cryptocurrency.
BTC up:
The price in the short term should be able to break the US $ 8,900 barrier with intensity, although not necessarily quickly.
Since yesterday, we witnessed the block of sale stationary Bitcoin spanning from US $ 8.900 and powould be present up to US $ 9,200. So, an upward entry, as safe as possible, would be above US $ 9,200, giving us more space to maneuver longs in a more stable way.
Before this price, although the purchase volume is still present, I suggest you take your operations as closely as possible, because at any time the market could turn around the volume of the sales block.
The condition for Bitcoin to remain bullish in the short term is to hold it above US $ 8,600. The objectives in the short term are: 9,000; 9,120; 9,250 and 9,500 dollars.
BTC down:
In these moments I would consider to bitcoin bassist at least below the US $ 7,800 zone. However, that does not mean that BTC does not get setbacks. On the contrary, the current price situation is somewhat disturbing.
We have previously experienced that the volumes of operations that help increase the value in the form of more than 45 °, usually tend to "deflate" very quickly. And this is what should keep us alert. But, Bitcoin will go back when it drops from US $ 8,550.
Below this price we could expect levels of 8,300; 8,180 and 8,000 dollars. BTC, as long as it remains above US $ 8,000, the bullish sentiment could still remain. Of course, to a lesser extent than above US $ 8,500. But, we could still look for tickets to buy.
It is important that I share that personally I do not consider that we have finished with the primary downtrend, I would consider it when the Price is above US $ 10.000.
Despite this, I am not wrong with the secondary trends that may exist, after all that a trader does is go with the trend, not against it. Remember that the most important thing is the management of your capital and always enjoy what you are passionate about.
Analysis by Saul Cano of Trade and Hold for Cryptocurrency
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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of Cryptocurrency, and should not be attributed to, Cryptocurrency.
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