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The weekend was particularly "quiet." We were continually reviewing the Bitcoin market between some friends and me in Bitso Mexico, some bulls, others bearish, but always enjoying the follow-up and opinions that they share. I wish with all my heart that they have or belong to an equal community.
It is well known that a lone trader does not take it very far, being able to contrast his vision and opinion helps him to “sharpen” the ax better.
On Sunday we got what good recovery training for Bitcoin can represent. However, we can see that the 200 mm is close and that once the price, trying to overcome it, was rejected. So, in this way, the market is not indicating and inviting to take advantages and precautions.
As we have been sharing in previous analyzes, the most stable purchase level is still US $ 8,900 and the sales area confirmation below US $ 8,000.
The real question is what to expect from the price? Time to buy or sell? Well let's review in the short term what to expect in my new analysis to Cryptocurrency.
"Candles light the way"
At the moment the price looks great, the crossing of the 200 mm and the continuity of the 20 mm gives us indications that Bitcoin is clear where it wants to move in the short term, it is only necessary that the volume also indicates it.
For now, BTC seems to try the goals of US $ 8,850, with a view to climbing to 9,014 and $ 9,228. This as long as it is able to sustain itself, at least, above the US $ 8,600 in some setback and obtain sufficient volume to overcome the US $ 8,850.
The condition in the long term is that the price remains above US $ 8,500.
Below the price, Bitcoin will only experience lows if it falls from US $ 8,300. This would lead to seek levels of US $ 8,000. This would be the last frontier of the price to think about lengths, below this last level the lengths look dangerous and the bears begin to form to throw any attempt at the price of leaving this area.
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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