Bullish return or mere pullback for BTC?

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If you have been following us in the technical analyzes about Bitcoin that we provide hereI'm sure you will remember recommending purchases above $ 10,300 and searching for the block price of $ 10,800–10,900.

It is beautiful to see how the BTC gave us a smile and is right in the mentioned block, the question is whether it will continue or not … This may be something interesting to "predict", however here we do not see the future, we analyze the price, we observe and we recommend zones.

It is for this reason that we invite you, if you are in the market from areas below $ 10,400, place your SL, at least on the entry site and let the price run. The worst that can happen to them is that the price returns to us and we go out in BE (Break Even) and the best that can happen is that they take the jump we are waiting for and maintain a winning position from the beginning of their trend.

Bitcoin price chart 09/16/2020 | TradingView

In any case, I will always recommend you to operate "at ease" simple, simple and relaxing. Trading for no reason should be desperate and if you are feeling it, do not panic, it is normal, but if you have to work on those points to become more and more a more profitable trader.

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

The bulls have it very interesting, Bitcoin is currently trying to break above the psychological level of $ 11,000. An upward entry would be expected in this area.

However, just breaking the block of $ 11,200–11,400 can give us enough momentum to experience a really worthwhile boost.

Below this block, BTC is predicted erratic somewhat tricky to make entries with better odds. However, if you feel prepared enough, entries above $ 11,000 are valid and you may have to endure setbacks as price breaks through natural barriers in this area.

bitcoin analysis 09 16 2020
Bitcoin price chart 09/16/2020 | TradingView

Above $ 11,400, free space would lead to $ 11,700–11,800 and hence a jump to the search for new highs.

But, as always, we must still be certain of the price formation and the corresponding volume of trades that sustain the trade.

Keep in mind that, in the short term, as long as the price remains above $ 10,400, the trend would still have continuity force.

If the price falls, let it wander a bit and wait for the correct entry of continuity.

For bears, things look a bit difficult. Despite there being setbacks that could be considerable, the pressure in this area is bullish. The bears would see it a bit complex, the only zone of sale volume that can be observed is below $ 10,200.

As long as the price does not close below this zone, the shorts are highly compromised. So be careful.

Where to take advantage of these levels of Bitcoin?

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stormgain, cryptocurrency signals
Profits from users who took advantage of the signals sent by SignalsCryptocurrencies, with the leverage of StormGain | Screenshot

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Remember that the most important thing is the management of your capital and always enjoy what you are passionate about.

Analysis 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 Cryptocurrency, and should not be attributed to, Cryptocurrency.


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