The market seems to be reacting very well from the areas we have shared in these analyzes. However, it is still presenting challenges to continue rising. If Bitcoin wants to continue rising, it must at least close today above US $ 8,000.
Otherwise, the sales volume would be acting against the momentum of the community and begin to make sudden movements of discount, which would end in a bearish explosion. Let's review the levels to watch for today, in my new analysis to Cryptocurrency.
Although the MM (moving averages) are showing us the way, there are still levels of interest that require great attention and care. The price of Bitcoin should soon be able to exceed US $ 8,300, to have indications of its intention to search for US $ 8,620.
Once this level has been reached, the volume will indicate if the intention is well maintained, seeking the level of US $ 9,000, as long as it is capable of exceeding the area of US $ 8,800.
However, it is still too early to determine that you do not want to continue climbing, the strongest area of interest if you intend to keep up is that of $ 7,800 and 7,600.
Bitcoin can still look to try the $ 7,800 test. However, upward momentum can still be experienced in this area. If not, the price could look for a last rest in the area of US $ 7,700 to fail in this area and be able to close below US $ 7,600, the price will tend to test the area of US $ 7,250.
This level is the first confirmation that the BTC still intends to keep looking for lower lows.
What we can not lose sight of is the area of US $ 7,000, if it arrives, since it would be the last price in which a good purchase volume is seen that would support the price very well, this as long as the volume so allow.
Remember that I always suggest levels of safe buying and safe selling, this is a personal opinion: it would not go back to purchase, as long as it does not exceed US $ 8,400 and would not go on sale as long as it does not fall to US $ 6,800.
Never forget that the most important thing is managing your capital and always enjoy what you are passionate about.
Analysis by Saul Cano of Trade and Hold for Cryptocurrency
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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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