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BTC / USD analysis
Today's analysis is made on a 3-hour timeframe, covering the period July 2019 - June 2020.
Resistance around the price of $ 10500 as of June 1, 2020, was rejected leading to a correction to around the price of $ 9000 USD, given the support shown at this price of resistance shows the basic understanding of the crypto market by investors but also increased buying interest.
In the chart above we are in the same descending triangle formed since 2016 until now, the maximum points have been reached strictly.
Highlights 2020: Bitcoin Halving also brings a low selling offer from miners at prices below the cost of mining.
The Pandemic crisis also brought increased volatility in the crypto market after the period in which the classical markets, stocks, forex or commodities, had already decreased, it is possible that the capital flow brought in the classical markets to support them came even from cryptocurrencies.
The Financial Crisis came in response to the Pandemic Crisis.
JP Morgan's entrance to the Crypto space.
Important short-term moments: Expiry date of futures contracts, July 26, 2020.
Even with a possible market correction, the general trend in the medium to long term is to increase and in the short term to decrease.
The early manifestation of the financial crisis in Venezuela and the depreciation of the Venezuelan Bolivar led the population to the cryptocurrency market, bringing in this massive growth during the beginning of 2019.
BTC / USD analysis
Today's analysis is made on a 3-hour timeframe, covering the period July 2019 - June 2020.
Resistance around the price of $ 10500 as of June 1, 2020, was rejected leading to a correction to around the price of $ 9000 USD, given the support shown at this price of resistance shows the basic understanding of the crypto market by investors but also increased buying interest.
In the chart above we are in the same descending triangle formed since 2016 until now, the maximum points have been reached strictly.
Highlights 2020: Bitcoin Halving also brings a low selling offer from miners at prices below the cost of mining.
The Pandemic crisis also brought increased volatility in the crypto market after the period in which the classical markets, stocks, forex or commodities, had already decreased, it is possible that the capital flow brought in the classical markets to support them came even from cryptocurrencies.
The Financial Crisis came in response to the Pandemic Crisis.
JP Morgan's entrance to the Crypto space.
Important short-term moments: Expiry date of futures contracts, July 26, 2020.
Even with a possible market correction, the general trend in the medium to long term is to increase and in the short term to decrease.
The early manifestation of the financial crisis in Venezuela and the depreciation of the Venezuelan Bolivar led the population to the cryptocurrency market, bringing in this massive growth during the beginning of 2019.
