$ 11,600 the pivot up for BTC


Since our last analysis of Bitcoin, I shared that the strongest level of interest is the area of ​​$ 11,600.

The BTC managed to break it and went on its way, finding a selling block at $ 11,700.

This movement did not comply with sustaining above the level of interest and the setback we have experienced began.

We remain within an upside probability area. However, you have to be cautious and not fall into expectations.

In these moments, where Bitcoin does not have a specific direction, the healthiest thing is to stay out of the market and wait.

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So let's review the interest levels for today, in my new analysis for Cryptocurrency.

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Bitcoin price chart 10/14/2020 | TradingView

For the bulls, in the short term the $ 11,500 level is to be watched with caution. This level could provide us with the pivot we are looking for to finally exceed $ 11,600 and allow Bitcoin to continue its search at $ 11,800-12,000.

However, if the price is still reluctant to return to these levels, the bulls could try to find at 11,120 or 10,800 dollars.

The recommendation is to try not to have positions before these levels and only in case the price experiences a rejection in the zone.

For bass players, the momentum is in your favor. But they are still within bullish zones.

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Bitcoin price chart 10/14/2020 | TradingView

If BTC continues to decline we could expect prices of $ 11,200-11,100 and $ 10,900-10,800.

Be careful with the shorts, they may not last long and if you are looking for a safe price it is only under $ 10,800.

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Disclaimer: This press release is for informational purposes only, the information does not constitute investment advice or an offer to invest. The opinions expressed in this article are those of the author and do not necessarily represent the views of Cryptocurrency, and should not be attributed to, Cryptocurrency.

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