Disclaimer: I'm a beginner and this is my first published idea. This idea is for observational and speculative purposes. Please be responsible of your own trades.
Due to the upcoming convergence of 100 MA and 200 MA lines, soon there could be a bull/rising trend for BTC/USD. Secondly, there is also the $2400 resistance barrier that if successfully passed, could increase the likelihood of this upward trend. Third, there is also the element of BIP91 being at play. At the moment, it seems very likely that BIP91 will be locked-in and activated by 23/7 (see @jimmysong at Twitter or Medium. Alternatively www.xbt.eu to check the progress live).
Many new users will see this as their entry point, which will increase the market demand, and consequently $BTC price. On 1/8, many exchanges have decided to halt their operation. This then may cause a slight reduction in market activity. Stop loss should be around $2500 for short-term, $2700 for mid-term, and $3000 or above for mid/long-term.
Due to the upcoming convergence of 100 MA and 200 MA lines, soon there could be a bull/rising trend for BTC/USD. Secondly, there is also the $2400 resistance barrier that if successfully passed, could increase the likelihood of this upward trend. Third, there is also the element of BIP91 being at play. At the moment, it seems very likely that BIP91 will be locked-in and activated by 23/7 (see @jimmysong at Twitter or Medium. Alternatively www.xbt.eu to check the progress live).
Many new users will see this as their entry point, which will increase the market demand, and consequently $BTC price. On 1/8, many exchanges have decided to halt their operation. This then may cause a slight reduction in market activity. Stop loss should be around $2500 for short-term, $2700 for mid-term, and $3000 or above for mid/long-term.
Comment:
www.coindesk.com/bit...g-proposals-collide/