After the drop caused by the panic of the stock markets in general, with the coronavirus as the protagonist, the BITCOIN is in a stabilization phase.
After a drop from highs in 10,400 to close to 4,000 . Very fast in which there has been slight resistance in the 8300 representing a fall of 1 integer in the Fibonacci series (20% drop from highs). It would go straight to 44% drop (2.61) from highs (5800) where it would have quite a bit of resistance. This value has been key since it is the support point of the current trend.
This point contains a lot of resistance and when it was lost it was recovered in just 5 days, which shows a lot of value. The marked lows of 3800 more or less coincide with the minimum drop after the BITCOIN bubble in 2018. This value is going to be fundamental in the coming times . A loss of this value would possibly mean very bad news for the cryptocurrency sector which can serve as STOP LOST KEY (3800) .
So right now the price is lateral between 5800 and 7200. It has touched 7200 and has not been able to overcome it, so it had to go down to find support (6300 or 5800) .
Even so, the volatility of bitcoin and stock markets in general are much lower. With this the Bitcoin possibly in the next few weeks will try to find new ground in the 5800 (0.61 fibo rise min) although I do not think it will touch them. Possibly it stays in the 6200 (0.78 of fibo of ascent). In 8300 corresponding to 1 of fibo we will have to wait and study the scenario of how the world stock markets are at that time.
FULL ANALYSIS
diariodeuningeniero.c o m / eco20_BTC_en. h t m l
After a drop from highs in 10,400 to close to 4,000 . Very fast in which there has been slight resistance in the 8300 representing a fall of 1 integer in the Fibonacci series (20% drop from highs). It would go straight to 44% drop (2.61) from highs (5800) where it would have quite a bit of resistance. This value has been key since it is the support point of the current trend.
This point contains a lot of resistance and when it was lost it was recovered in just 5 days, which shows a lot of value. The marked lows of 3800 more or less coincide with the minimum drop after the BITCOIN bubble in 2018. This value is going to be fundamental in the coming times . A loss of this value would possibly mean very bad news for the cryptocurrency sector which can serve as STOP LOST KEY (3800) .
So right now the price is lateral between 5800 and 7200. It has touched 7200 and has not been able to overcome it, so it had to go down to find support (6300 or 5800) .
Even so, the volatility of bitcoin and stock markets in general are much lower. With this the Bitcoin possibly in the next few weeks will try to find new ground in the 5800 (0.61 fibo rise min) although I do not think it will touch them. Possibly it stays in the 6200 (0.78 of fibo of ascent). In 8300 corresponding to 1 of fibo we will have to wait and study the scenario of how the world stock markets are at that time.
FULL ANALYSIS
diariodeuningeniero.c o m / eco20_BTC_en. h t m l