Hello there,
The resistance point was reached around 11,400 USD, the trend going from decrease to increase, which is confirmed when the price remains above the yellow line and above the point indicated on the blue flag on the chart.
Depending on the chart, the BTC has some support points that it can reach in the next period, but also some reasons why it would tend more towards one of them.
The key point in this move is the flag which is the necessary support to keep in the upward trend around 10,700 USD.
If the BTC passes below this threshold, we return to the downward trend, which has a minimum between 8,000 and 8,500 dollars, according to the prices from 2018-2019.
The graphic break or CME GAP, as it is also called, could be confirmed in the case of the first case of decrease, this being somewhere around the price of 9,600.
In the ascending version of the price we see a continuity of the BTC already started, 11,400 being the first point of resistance to be able to consider the following thresholds, 13,000, respectively 15,000 dollars.
The interest given for these thresholds is largely related to the movement of classic markets such as Forex, stocks, commodities, but also to the way we react globally to the current pandemic crisis.
Let's not forget, however, that BTC and cryptocurrencies are some of the few assets confirmed by analysts as some of the best tools of refuge in a possible economic crisis.
We also see that institutional investors have begun to access the market in large numbers, as they are prone to portfolio sharing.
At the fundamental level, the fear imposed by a new possible wave of the pandemic and with it the second lockdown, led to the decline of the classic markets, which are correlated with the cryptocurrency market.
Investors' indecision regarding the redistribution of investments has led to a compliant division of portfolios into cryptocurrencies, which are considered by many to be some of the best tools of refuge at such times.
Separation of the crypto market from all other markets and its growth is most natural to occur in times of general decline such as a decline in fiat currencies.
Please take your time and be patient in your investements.
This is not a trading advice.
Thank you,
St.Gex
The resistance point was reached around 11,400 USD, the trend going from decrease to increase, which is confirmed when the price remains above the yellow line and above the point indicated on the blue flag on the chart.
Depending on the chart, the BTC has some support points that it can reach in the next period, but also some reasons why it would tend more towards one of them.
The key point in this move is the flag which is the necessary support to keep in the upward trend around 10,700 USD.
If the BTC passes below this threshold, we return to the downward trend, which has a minimum between 8,000 and 8,500 dollars, according to the prices from 2018-2019.
The graphic break or CME GAP, as it is also called, could be confirmed in the case of the first case of decrease, this being somewhere around the price of 9,600.
In the ascending version of the price we see a continuity of the BTC already started, 11,400 being the first point of resistance to be able to consider the following thresholds, 13,000, respectively 15,000 dollars.
The interest given for these thresholds is largely related to the movement of classic markets such as Forex, stocks, commodities, but also to the way we react globally to the current pandemic crisis.
Let's not forget, however, that BTC and cryptocurrencies are some of the few assets confirmed by analysts as some of the best tools of refuge in a possible economic crisis.
We also see that institutional investors have begun to access the market in large numbers, as they are prone to portfolio sharing.
At the fundamental level, the fear imposed by a new possible wave of the pandemic and with it the second lockdown, led to the decline of the classic markets, which are correlated with the cryptocurrency market.
Investors' indecision regarding the redistribution of investments has led to a compliant division of portfolios into cryptocurrencies, which are considered by many to be some of the best tools of refuge at such times.
Separation of the crypto market from all other markets and its growth is most natural to occur in times of general decline such as a decline in fiat currencies.
Please take your time and be patient in your investements.
This is not a trading advice.
Thank you,
St.Gex