BTC/USD, read a fair analysis, prices are going up again!
Just follow the whales
For what I am used to see, to trade on, the BTC shows signs of consolidations and is not going to go any lower. Prices are driven by huge investments from privates investments companies such as MicroStrategy (more than 100.000 bitcoins at a market price of 29,000 USD). This resistance of 29,000 has been retested a few times and I doubt the btc will go any lower in this bull market. With their recent announcements, China is just helping bitcoin to return to better price. I am aware that many of you disagree with this idea, but lets see ;)
For what I am used to see, to trade on, the BTC shows signs of consolidations and is not going to go any lower. Prices are driven by huge investments from privates investments companies such as MicroStrategy (more than 100.000 bitcoins at a market price of 29,000 USD). This resistance of 29,000 has been retested a few times and I doubt the btc will go any lower in this bull market. With their recent announcements, China is just helping bitcoin to return to better price. I am aware that many of you disagree with this idea, but lets see ;)
Comment:
If prices are reaching the 42,000 area again. then we will see what happens. But I am convinced prices are getting there
Comment:
Now that the prices went above the 42,000 resistance, we can expect this area to become a support. That's my second analysis, go check it out