Bitcoin - important price movement is incoming !
After the bitcoin price formed a triangle formation since mid-June it has now almost arrived at the end of the formation. The volume is also in the consolidation phase, which is why we can expect an increase in volatility soon.
Another important aspect is the Bakkt start on Monday. Many will see this as positive and therefore buy bitcoins, in my opinion the start is already priced in and larger investors will short the market because a lot of buying volume will accommodate and that is exactly what you need if you want to get rid of a lot of bitcoins.
I expect a breakout down as drawn in the chart, at $ 8000 is a first good long entry possible after the breakout.
Should the market break out upwards I recommend going long only after a clear buy signal as shown in the chart.
-50 & 100 day moving average (yellow and blue line) crossed the 200 day moving average which is bearish indicator
-RSI is in down movement and near last stronger support - next support is almost 10 points away which implements bigger bearish movement if the support breaks down
Another important aspect is the Bakkt start on Monday. Many will see this as positive and therefore buy bitcoins, in my opinion the start is already priced in and larger investors will short the market because a lot of buying volume will accommodate and that is exactly what you need if you want to get rid of a lot of bitcoins.
I expect a breakout down as drawn in the chart, at $ 8000 is a first good long entry possible after the breakout.
Should the market break out upwards I recommend going long only after a clear buy signal as shown in the chart.
-50 & 100 day moving average (yellow and blue line) crossed the 200 day moving average which is bearish indicator
-RSI is in down movement and near last stronger support - next support is almost 10 points away which implements bigger bearish movement if the support breaks down
Trade geschlossen: Ziel wurde erreicht:
sell traget reached
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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