BitcoinLong
BTC Will growth continue after 10,000? Technical analysis 08.02
Glad to welcome everyone, dear friends!
Analysis update from 02/08/2020:
After my previous review, the situation has not changed at all. The mood in the market is long priority. After successfully securing a local resistance of $ 9600, the price successfully continues to consolidate, maintaining an upward imbalance and increased demand for purchases. Any attempts by sellers to push the price below the main support levels of $ 9600-9700 come to naught. An important factor is the control of daily demand in the region of $ 9700-9800, which tells us in the moment about the dominance of purchases in the market. Now it is important to consider the increased liquidity zone of $ 10,000, which is also a psychological level. When breaking through and consolidating above this level, the price will rush to the main zone of interest of $ 10300-10500. A huge number of people will try to shorten such a movement, therefore, at their feet and liquidations, the price is most likely to rush higher, up to $ 11,000-11300. Many will write in the comments, saying: "That's it, the under-traders who write about the native" have woken up, or something similar. Well, time will tell, as they say. Of the interesting signals in our moment a bearish divergence formed, creating the illusion of an impending fall, BUT, let's take a look at the chart:
And there are a lot of such situations on the chart. I am a little distant, and I recall the April events of 2019, when in 2-3 days the price made ~ 35%. There were already double divergences, which were pronounced signals for sale. As a result, a record number of liquidations and millions of lost money. I am not saying that the situation will repeat exactly, but we have all the prerequisites for this globally. We now have good profit on transactions, plus everything, all positions are protected by a breakeven stop. In fact, with a strong strait with unrequited reckoning, the scenario will change, but we will not lose anything. I take into account the possibility of a squeeze to 9500 (working out divergence) with instant buyback. Otherwise, I already said that we are not losing anything.
The main scenario is from 05.02, which is still active:
Like, subscribe and share your ideas if you like
Successful bidding, my dear!
Analysis update from 02/08/2020:
After my previous review, the situation has not changed at all. The mood in the market is long priority. After successfully securing a local resistance of $ 9600, the price successfully continues to consolidate, maintaining an upward imbalance and increased demand for purchases. Any attempts by sellers to push the price below the main support levels of $ 9600-9700 come to naught. An important factor is the control of daily demand in the region of $ 9700-9800, which tells us in the moment about the dominance of purchases in the market. Now it is important to consider the increased liquidity zone of $ 10,000, which is also a psychological level. When breaking through and consolidating above this level, the price will rush to the main zone of interest of $ 10300-10500. A huge number of people will try to shorten such a movement, therefore, at their feet and liquidations, the price is most likely to rush higher, up to $ 11,000-11300. Many will write in the comments, saying: "That's it, the under-traders who write about the native" have woken up, or something similar. Well, time will tell, as they say. Of the interesting signals in our moment a bearish divergence formed, creating the illusion of an impending fall, BUT, let's take a look at the chart:
And there are a lot of such situations on the chart. I am a little distant, and I recall the April events of 2019, when in 2-3 days the price made ~ 35%. There were already double divergences, which were pronounced signals for sale. As a result, a record number of liquidations and millions of lost money. I am not saying that the situation will repeat exactly, but we have all the prerequisites for this globally. We now have good profit on transactions, plus everything, all positions are protected by a breakeven stop. In fact, with a strong strait with unrequited reckoning, the scenario will change, but we will not lose anything. I take into account the possibility of a squeeze to 9500 (working out divergence) with instant buyback. Otherwise, I already said that we are not losing anything.
The main scenario is from 05.02, which is still active:
Like, subscribe and share your ideas if you like
Successful bidding, my dear!
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