Will Bitcoin price go up or will it go down more?

Will Bitcoin price go up or will it go down more?

By Kanielcash | Kanielcash channel | 18 Jul 2020


Currently the price of bitcoin comes from a sharp rise, in which several speculators believe that even in the month of August the price of bitcoin will reach around 10k USD.

Even with the difficult times due to the corona virus, bitcoin has shown itself to be increasingly strong, becoming one of the assets most targeted by investors.

by graphical reading together with technical analysis, we see the formation of a large bullish bull or even a wedge formation for a future bull.

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This is just a few more of the factors that give more veracity to the future high of the pico, there are countless factors to strengthen this search of 10,000 USD. Another point is that with the increase in the search for the acquisition of the asset, make it raise the price increase of BTC even more on the supply and demand positions. Offers to buy and sell, such as if the price reached a favorable zone for those who entered when the price of BTC is 8,000 USD, with the price above that they would not want to take a risk they will surely sell their BTC to guarantee profit and will await a future correction so you can make more purchases.

Based on Coinbase data, we observed that the increase in customers who bought bitcoin had a significant increase of 69%, while the value of those who discarded their BTC was only 31% in the last 24 hours through negotiations, arriving at 66.6 billion reais traded (BRL value).

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So far on 07/18/2020 Bitcoin is trading at the price of 9168.53 USD with a slight increase of 0.31% and may vary more or less.
With my analysis I am waiting with two positions one to sell and one to buy, I await a response from both forces to one side. For scalper sales as I am confident in the high search for 10k USD to enter heavy for a swing trader.

Remembering that this analysis is based on my indicators for long-term gains without any indication of buying or selling for you. All operations that will be carried out are on a total basis within my management.

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Kanielcash
Kanielcash

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