BTC set its price to expire

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Interesting Bitcoin movement today. A strong momentum, as if the volume was trying to take the buying positions that were in the area and suddenly the price returned with great force to the downside, probably beating the Stop Loss of the retail traders and activating the shorts of many others. .

Bitcoin Price Chart 06/17/2020 | TradingView

The most relevant situation is to observe how BTC is currently doing very well with a three-time rejection of the $ 9,600 level, as a limit, and a block of sales that we must overcome in order to continue to rise.

However, despite these movements that can be “aggressive” or manipulated, they only correspond to a lateral operation and remember that we have always recommended not to operate the lateralities of any asset.

With that said, let's review the levels we need to monitor today in my new analysis to CryptocurrencyICO.

For bulls, the picture is simple. The suggestion is not to make upward entries, unless it's above $ 9,600.

bitcoin, Bitcoin Analysis 06/17/2020: BTC set its price to expire, Cryptocurrencies and ICOs, Cryptocurrencies and ICOs
Bitcoin Price Chart 06/17/2020 | TradingView

Experienced traders could take positions in retracements or pivot points, but they should know that the entries are not 100% accurate, until leaving the neutral zone in which Bitcoin is located.

They might try to identify the maximum pullback and look for tickets, but I suggest you always have your friend Stop-Loss on hand.

For bassists the terrain opened up, and the possibilities too. However, keep in mind that the area in which we are located is neutral, the price could well operate laterally for the rest of the day or week.

The important thing to visualize is that Bitcoin, if it continues to decline, could be looking for a break at $ 9,100–9,050, with a peak up to $ 8,900.

Below $ 9,000, there is a strong buying block that would be giving us a very strong boost. In case of becoming effective, Below this block the prices that we could experience are $ 8,600, $ 8,200, with peaks up to $ 8,000.

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Analysis carried out by Saul Cano of Trade and Hold for CCN

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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 CryptocurrencyICO, and should not be attributed to, CryptocurrencyICO.


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