Follows a Bitcoin Technical Review.
Through this study it is possible to measure the market risk, at what time Bitcoin is and, if it is interesting to have a trade.
The price of Bitcoin is currently trading in the range of US $ 11,200 (analysis to 10:43 AM, Brasilia Time).
Bitcoin Technical Analysis
The price dawned trying to break the resistance of $ 11400 (Resistance Due to the Weekly chart)
At that time our alert is on, since the price has been rising a long time and we have some evidence of exhaustion (such as volume reduction).
As mentioned in our previous analysis , a lateralization in the zone of $ 9800 – 11000 would be extremely positive for the market.
However, we now have to wait for the price to give us some more indication of its direction. So our recommendation at the moment will depend on your strategy:
If you prioritize BTC : Get bought in Bitcoin.
If you prioritize your equity in Real (R $):Do not buy Bitcoin now, there is no clear trade right now.
As said in the full analysis , if the price close that week above $ 11400 (T), we could see a tightening up to $ 16,000.
Market is positive
Doing a general analysis, the market is very positive for the cryptos, although the altcoins are suffering. This is temporary, since the market has tripled in size in the last 2 months.
The currencies are low in liquidity and any capital that ventures into the altcoins will cause a tsunami (positive). Be prepared for the next altseason!
If you want to understand better about these market movements and how to act in the market, check out our report on the altcoins market , which already comes with an elaborate methodology to start earning in that market.
Do not be impatient !!! Investment is long term.
~ Have Every Day Market ~
~ This material is not a recommendation to buy or sell, only a study to assist you in your decision making.