A whole lot activity took place in the markets over the last week. BTC price plummeted rather dramatically in the early hours from $12000 down to just over $10500. Traders/Investors should expect price to head north of $12000. We should also expect sentiment to remain bullish as long as price action remains above the 21-weekly EMA.
This video is strictly for educational purposes. It is not a video giving any financial advice as the maker of this video is not authorized to do so. This video is not an endorsement of Bitcoin for purchase.
It has been a while since my last video, my apologies to all. I have been busy with other things. BTC has ranged between $9000 - $10400 over the last few days. It has been very volatile but then most should not be surprised. This video takes a quick look at BTC and possible price moves. This video is strictly for educational purposes. It is not a video giving any financial advice as the maker of this video is not authorized to do so. This video is not an endorsement of Bitcoin for purchase.
A quick look at Bitcoin's price range and possible future direction. This video is strictly for educational purposes. It is not a video giving any financial advice as the maker of this video is not authorised to do so. This video is not an endorsement of Bitcoin for purchase.
The price of Bitcoin has been a point of concern for many pundits. Technical analysis upon technical analysis is the order of the day. As I have often said, no one really knows what will happen the very next moment. There has been concern by some when it comes to Bitcoin's dominance in the world of cryptocurrencies. We have all seen Bitcoin fall from 71% in September 2019, to just over 62% today. Nevertheless, this does not mean that Bitcoin will not recover its dominance. Bitcoin's dominance depends on its price, which is $10050 at this time.
Looking at the price chart below, we see that there is the classic sign of a price increase - higher highs and higher lows. I predicted some time ago but wrote no blog to the effect that the price of Bitcoin would hit the $10200 mark! Bitcoin did hit the mark but also surpassed it by going to $10400. The next move is expected to hit $10800 before any retracement. Having said all that, we must consider an alternative to our narrative. We may find that the price of Bitcoin falls. If it does, I expect it to fall to the $9375 region. This would also coincide with the Kijun-sen level on the Ichimoku chart.
Some may think the analysis is too simple; sometimes it just is. As for where the price may head, your guess is as good as mine.
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