BTCUSD Analysis
At this moment the BTC / USD price is $ 17,471 with a local maximum of ~ $ 18,500.
The evolution of BTC / USD in the last month was more than spectacular, with an increase of about 70%, managing to break very important key points: $ 12,500, $ 14,000 and $ 16,000.
If BTC / USD manages to stay above $ 16,000, the trend is confirmed to be one of growth and market values can reach much higher prices than current ones.
As potential highs we have to cross a psychological threshold of $ 20,000 for the market to create a new feeling of FOMO (Fear Of Missing Out), in this case the price of $ 30,000 could be easily reached.
Otherwise, if BTC / USD falls below this value of $ 16,000, BTC returns to a short downtrend near $12,500 area.
Another very important factor in this analysis is the history of the last BullRun which took place in May 2016 - Dec 2017 in the case of BTC.
Between the mentioned data, the growth of the cryptocurrency was constant, but with price adjustments of approximately 40% overtime.
At this time, a 40% decrease from the local maximum of $ 18,500 means an estimated value of $ 11,000, as the minimum point to be reached according to the above hypothesis.
The RSI indicator represents a high interest in buying lately, but a risk of price correction.
The increases of the current year are similar to the movements in the beginning of the last bullrun. A healthy growth needs prices corrections, in which to accumulate and to establish new support areas. The closest support price is $16,000.
The growth has made the market look confident and discussed by big media and big names (PayPal, JP.Morgan etc.) and most of the world's central banks that are discussing creating their own digital currencies (CBDC).
The attention is due to the events of 2020, the pandemic caused by Coronavirus and the decision to print fiat currencies to support the economy. This action unfortunately translates into the devaluation of the fiat and rising inflation.
The correlation between cryptocurrencies and classical markets still remains valid with percentage differences in terms of increases or decreases due to market capitalization, the latter (Crypto) having much lower capitalizations than the first mentioned, which brings increased volatility.
Any big growth starts with small steps!
At this moment the BTC / USD price is $ 17,471 with a local maximum of ~ $ 18,500.
The evolution of BTC / USD in the last month was more than spectacular, with an increase of about 70%, managing to break very important key points: $ 12,500, $ 14,000 and $ 16,000.
If BTC / USD manages to stay above $ 16,000, the trend is confirmed to be one of growth and market values can reach much higher prices than current ones.
As potential highs we have to cross a psychological threshold of $ 20,000 for the market to create a new feeling of FOMO (Fear Of Missing Out), in this case the price of $ 30,000 could be easily reached.
Otherwise, if BTC / USD falls below this value of $ 16,000, BTC returns to a short downtrend near $12,500 area.
Another very important factor in this analysis is the history of the last BullRun which took place in May 2016 - Dec 2017 in the case of BTC.
Between the mentioned data, the growth of the cryptocurrency was constant, but with price adjustments of approximately 40% overtime.
At this time, a 40% decrease from the local maximum of $ 18,500 means an estimated value of $ 11,000, as the minimum point to be reached according to the above hypothesis.
The RSI indicator represents a high interest in buying lately, but a risk of price correction.
The increases of the current year are similar to the movements in the beginning of the last bullrun. A healthy growth needs prices corrections, in which to accumulate and to establish new support areas. The closest support price is $16,000.
The growth has made the market look confident and discussed by big media and big names (PayPal, JP.Morgan etc.) and most of the world's central banks that are discussing creating their own digital currencies (CBDC).
The attention is due to the events of 2020, the pandemic caused by Coronavirus and the decision to print fiat currencies to support the economy. This action unfortunately translates into the devaluation of the fiat and rising inflation.
The correlation between cryptocurrencies and classical markets still remains valid with percentage differences in terms of increases or decreases due to market capitalization, the latter (Crypto) having much lower capitalizations than the first mentioned, which brings increased volatility.
Any big growth starts with small steps!