How is Bitcoin today ?

How is Bitcoin today ?

By 10 minutes | cotidiana | 19 May 2020


Hello friends, I am glad to be with you again.

Well at the moment we're going to analyze the bitcoin that we've left a little bit alone since the Halving issue.

We'll see how it develops, now that the halving has happened, and as we can see in the weekly chart, there is a large triangle, which has clear bounces at the bottom and at the top.

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Our streak is still working, so we are at the forefront of the trinity, it will not be surprising that the price will fall, some rest and then recover, pressure may increase here, which makes us wait for months for a high explosion, frankly, I would love to see it imprisoned in this region, the explosion worth it, but this is a medium to long-term scenario, nothing has been recorded yet, we are in a key area, we have to see various scenarios, we are now at the top of the triangle and there are some signs of bullish exhaustion so that I will not be surprised by any temporary drop before recovering.

On a daily chart , we have an additional trend, on this line going up and down, up and down again and up.

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Now this is the scenario, there is a barrier preventing the continuation of the rise, we have bottoms and tops, so there will be a strong shock between them, we must see whether they can give the momentum to break the bullishness or intolerance and let the price go down.

So we have to be careful and keep an eye out, we are now in a bullish bounce area, if we go to a 4 hour frame for example, we see how the line does its job very well, bouncing, breaking, bouncing.

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Be careful, because if it does not reach the previous tops or previous peaks, this would be a sign of a downward movement as this would be like a double tops then a rest.

In any case it will be an opportunity for those who haven't bought bitcoin, the $ 5000 / $ 6000 area will be a luxury opportunity.

Not bad, the effect of halving appears after months, then bitcoin begins to take its way. Accumulation of pressure ... more pressure and the more pressure accumulates more strongly in the explosion, and what Bitcoin needs is this strong explosion to break the levels it already has, very difficult levels at $ 10,000 at $ 15,000 and $ 20,000, so that pressure can give momentum, and by exceeding 20 k , there will be no cap
we will be on new ground.

Well that's all for Bitcoin today.

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cotidiana
cotidiana

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