Bitcoin - return to an upward trend?
Recently we have mentioned that the price of Bitcoin has created a potential 20% correction which could end at strong support. The support has been set by previous tops and also by the lower limit within the upward trend channel.
The price has respected these two levels and bounced back to the main trend channel. Currently, if the nearest potential resistance at 11130 USD is broken we could expect another rally. The next possible resistance may be set by the line drawn through the tops, so near 13000 USD per BTC.
It seems that only a significant breakout of the support at 10000 USD could change the sentiment on the market.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The price has respected these two levels and bounced back to the main trend channel. Currently, if the nearest potential resistance at 11130 USD is broken we could expect another rally. The next possible resistance may be set by the line drawn through the tops, so near 13000 USD per BTC.
It seems that only a significant breakout of the support at 10000 USD could change the sentiment on the market.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.