The day starts with an interesting move for Bitcoin. The BTC retracement from $ 10,800 gives us an indication of how strong and solid sales are in the $ 10,800-11,000 block.
However, it is important to remain neutral regarding the movements that occur in the following hours and days. This is because the price is still in a bullish zone and consolidation, which at the moment is being very important for the bulls.
So let's review the interest levels in Bitcoin for today, in my new analysis for Cryptocurrency.
For the bulls in the short term, they could only aspire to a recovery of the BTC above $ 10,800, this price works as a psychological level that should be kept in mind.
Once the resistance is broken the price will tend to seek prices of 11,000, 11,200 and with possible extensions to $ 11,500.
The safest entries can only be seen above $ 11,000, below, despite all forecasts, we could expect "turbulence" on the road.
For bears, just the breakout of $ 10,600 increases the odds that the price will seek $ 10,400-10,200, with volatility spikes at $ 10,000.
Bears are very well positioned on the road to $ 12,000 and you have to be attentive to their manifestations.
The good news for Bitcoin bulls is that the price, as long as in the medium term still sustains above $ 10,200, the market sentiment will not change from bullish to bearish.
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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 CCN
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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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