It was an interesting weekend! The movements of the Bitcoin market, to which the price had accustomed us during the weekends, were not raised so abruptly this time.
However, since the beginning of this day we have experienced a boost, most likely supported by the $ 8,400 interest zone, bringing BTC to $ 8,800 and giving us a very beautiful daily candle to take advantage of.
But is it time to think about a recovery? Is it a bull trap? Let's review those details and analyze what to expect from BTC today, in my new analysis to Cryptocurrency.
In the short term, the most important challenge is the price of $ 8,950, this area is key to the continued upward price. Once broken and held above this level, Bitcoin would tend to seek targets of $ 9,300–9,500 and overcoming this block would lead it to seek recovery towards $ 10,000.
However, keep in mind that the situation still does not change at all, we are under a bearish pressure and this will be pressing us very hard, try to confirm each of your entries well and do not leave anything up.
The strongest sales block for BTC is below $ 9,400. Bitcoin could observe or experience downward returns, but as long as they don't exceed $ 9,400 these market setbacks can be dangerous and leave you stuck in a position.
Be patient and wait for the perfect entrance. 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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