BITCOIN - The bulls are gathering strength! BTCUSD
Short analysis on Bitcoin from 08.03.2021
As expected last Sunday, there was increased position smoothing within the distribution zone and a corresponding reaction on the short side. The cryptocurrency BTCUSD is currently within a very decisive phase. If the current temporary downward reaction stabilises above USD 49,000, a renewed test of the upper limit level (at approx. USD 51,300) is to be expected. From a statistical point of view, a break on the upside (with corresponding follow-up buying) and a pronounced impulse movement to the area around USD 56,000 should then occur.
In the event of a sustained break of USD 47,000 (excluding breakthroughs), however, the current environment would become increasingly gloomy, which should lead to selling pressure and a decline to USD 44,000 for the time being.
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Notice:
Despite careful analysis, Global Investa assumes no responsibility for the content, timeliness, accuracy or completeness of the information provided. In particular, the information provided does not constitute investment advice, a recommendation to buy or investment brokerage and can in no way replace investor- and investment-appropriate advice from a professional investment advisor who takes into account the client's individual economic circumstances and level of experience.
As expected last Sunday, there was increased position smoothing within the distribution zone and a corresponding reaction on the short side. The cryptocurrency BTCUSD is currently within a very decisive phase. If the current temporary downward reaction stabilises above USD 49,000, a renewed test of the upper limit level (at approx. USD 51,300) is to be expected. From a statistical point of view, a break on the upside (with corresponding follow-up buying) and a pronounced impulse movement to the area around USD 56,000 should then occur.
In the event of a sustained break of USD 47,000 (excluding breakthroughs), however, the current environment would become increasingly gloomy, which should lead to selling pressure and a decline to USD 44,000 for the time being.
If you liked the analysis, we would be pleased if you liked or subscribed to it. By doing so, you support our work enormously!
Notice:
Despite careful analysis, Global Investa assumes no responsibility for the content, timeliness, accuracy or completeness of the information provided. In particular, the information provided does not constitute investment advice, a recommendation to buy or investment brokerage and can in no way replace investor- and investment-appropriate advice from a professional investment advisor who takes into account the client's individual economic circumstances and level of experience.
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