Maybe they feel that the title is something “alarmist”, or at least “optimistic”, and they’re right, it is. But it is definitely not a clickbait (I hate that).
However, it is an extremely interesting reflection, in which I observe the previous highest maximum located in June 2019 and the highest maximum of this year, $ 12,500.
And when observing this and the behavior that Bitcoin has been presenting, and taking into account the political / economic situation in which the world finds itself, it gives me a feeling of not ruling out a latent possibility, but if being measured when addressing it is not only in the trade, if not also in this post.
Let’s review the interest levels for this day and those that are key to see a BTC above $ 14,000 this year, in my new analysis for CryptomonedaseICO.
In the short term, for the bulls, the $ 10,800 gives a very good opportunity to pick up prices of $ 10,950–11,100.
However, only a price break of $ 11,150 would give us a better chance of finding an entry, allowing us to reach $ 11,300–11,500.
Do not forget that once inside the $ 11,000 territory, BTC would retake bullish territory and it is likely that at first it will find some resistance and generate price volatility, which could hurt you if your SLs are not adequate.
The suggestion and invitation is that if they enter above $ 11,000, try to have a wide Stop Loss, in which the volatility of the area passes.
For bass players, the field has been shrinking. However, this is when the pressure of the bears can be seen the most. The price seems to be dissatisfied with the latest rally and could try to get back to $ 10,600.
However, it is this area that we must be vigilant in because it is in psychological support, which could either give strength to the bulls, or allow the BTC to crash to new levels.
The suggestion is that, If they want to enter, do so below $ 10,500, once Bitcoin closes below this area, it is likely that they will still seek lows towards 10,200 and 10,000 dollars.
The latter could be the support that defines everything and determines the course in the following weeks. So I recommend patience and above all capital management.
The key is $ 12,500. If price is able to pick up this level and sustain above it, the odds increase with time.
The price has been behaving in a bullish way in its primary trend. Theoretically, if they only buy BTC it will eventually bring them benefits, but for most of these readers just buying Bitcoin and waiting doesn’t quite work, because we are liquidity and capitalization seekers. But, it wouldn’t be bad if we learned from the holders.
On the monthly chart, BTC is pointing downward, on the weekly chart as well, so if this is so, why watch purchases?
This is a very good question, technically (from a technical analysis point of view) the right thing to do is to go with the immediate trend and buy at the lows. However, This is why I ask that, if you are going to make large purchases, do it alone and as long as it exceeds $ 12,500.
All the rest are trades that can take advantage of, but for me the true level of wealth (in the short term) is there, “we can buy lower”.
In particular, I buy where there is more probability of income without high risk, at this time I consider that the price has not yet defined where to go and therefore the investment is risky.
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I recommend patience at levels below $ 10,000 and an SL just right at your profit-loss ratio. Remember that the most important thing is to manage your capital and always enjoy what you are passionate about.
Analysis by Saul Cano of Trade and Hold for CryptomonedaseICO
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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 CryptomonedaseICO, and should not be attributed to, CryptomonedaseICO.