Hi guys!!
Quick analysis on Bitcoin on week chart.
We see the formation of a buying trap on top of the mm50 periods that formed at the close of last week.
What does that mean?
Many players came in selling because they believed there was a disruption of this average. Causing a real trap for these traders.
This causes their stop loss to be activated, taking the price of Bitcoin up. Should the price break last week's high, it has a stronger confirmation of rising prices.
By making a projection of Fibonacci we see that prices can reach the price of 80 thousand dollars.
See below the statistics of this analysis in the past.
This is not investment recommendation. Your money is entirely your responsibility.
Quick analysis on Bitcoin on week chart.
We see the formation of a buying trap on top of the mm50 periods that formed at the close of last week.
What does that mean?
Many players came in selling because they believed there was a disruption of this average. Causing a real trap for these traders.
This causes their stop loss to be activated, taking the price of Bitcoin up. Should the price break last week's high, it has a stronger confirmation of rising prices.
By making a projection of Fibonacci we see that prices can reach the price of 80 thousand dollars.
See below the statistics of this analysis in the past.
This is not investment recommendation. Your money is entirely your responsibility.
