Bitcoin reached the first pivot at 8500 USD. A slight correction took over in the short term. Nevertheless, buyers should not have a hard time getting back into control.
- Pivot at 8500 USD
- Bullish Weekly signals
- Confirmation of increase
The goal at 8500 USD has been reached, Bitcoin is expected to join the 9500USD before the decision of the SEC.
Our analysis are entirely done on Binance charts
Resistance at 8500 USD pushed back buyers. Nevertheless, the bullish movement is now confirmed, we have just left the compression figure that we have been following for several months. A priori, we, therefore, start on an uptrend, at least in the short term. On the Weekly chart, signals lean in favour of buyers. We have an interesting margin of profit up to around 9500USD. But before that, it will be necessary to pass the pivot at 8500 USD. For now, our indicators are very much in the overbought zone. Nevertheless, they clearly give us an uptrend.
How to take position?
We were able to enjoy the return on 8500 USD. We will now wait for buyers to break resistance at $ 8,500 and then position us for $ 9,000. In the meantime, we will be doing Day Trading in the range of $ 8500 to $ 8000.
Should we expect a new correction?
It doesn’t seem so. Nevertheless, if we go back under the $ 7800 pivot, we will have to prepare for a short-term correction.
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Key Levels :
- Essentials resistances : 8500 – 9000
- Essentials supports : 8350 – 8200- 7800
Disclaimer: This blog is only the showcase of my work. I expose to you all my personal analyzes, my personal trades, my personal investment decisions, or the positions that I judge good without taking them myself. We do not offer any investment advice and they are not trading instructions. Nevertheless, you are free to copy my judgments if you judge my work satisfactory.
It is important to note and understand that cryptocurrency trading carries serious risks. You can lose capital and more on some platforms. Take this into account and moderate your investment decisions. Never invest money that you can not afford to lose!
Reminder: The analyzes on the page cover a period of 12 to 48 hours and are optimized for Day Trading and not the long position. We give our long positions on our youtube channel.