After two timid weeks of bullishness, Bitcoin fell again, dropping 5% this week.
What to expect from Bitcoin for the next few days and how to prepare for a possible downturn? That's what we'll see in today's analysis.
Then check out the review below.
At this point, Bitcoin follows above the downtrend line (LTB) of the weekly chart and above the $ 10,000 support.
The bullish bias in the weekly remains, and the $ 20,000 and $ 30,000 dollar targets (Fibonacci targets) are still standing:
At this point, we still have room to correct between $ 9,600 and $ 9,000, which is the next support.
If it does, it will not be a cause for panic, as prices will still be above the weekly LTB:
On the daily chart, we see that the price made an OCO (shoulder-head-shoulder) and fell sharply up to $ 9,900. Then, he pulled back to $ 11,000.
Now, the price is falling again. This downward movement shows the possibility of a bearish WAVE 3, which could bring prices to $ 9,600 – $ 9,000 again.
If this happens, we will have a great shopping opportunity for the long term forming:
For those who like short-term operations, it is worth watching for a possible price pullback in the region of US $ 10,700. We may have a short-term sales opportunity to buy back below $ 9,600:
Right now, we are falling and thinking about a medium and long term scenario.
It makes no sense to sell Bitcoins. With this drop, buying opportunities arise and that is what I intend to do if prices continue to fall over the next few weeks.
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Warning: The information contained in this document is not guaranteed, is not intended to be comprehensive and is strictly for informational purposes only. It should not be considered as an investment / trading recommendation. All information is believed to come from reliable sources. CriptoFácil does not guarantee the precision, accuracy, or completeness of the information in its analysis and, therefore, will not be responsible for any losses incurred.